The Hong Kong Stock Exchange (HKEX) is poised to make a significant leap in the financial landscape by introducing Asia’s first EU-regulated crypto index on November 15.
This innovative step is expected to open up fresh investment avenues in Hong Kong, bridging the gap between cryptocurrency and traditional stock markets. Financial analysts view this initiative as a progressive move that reinforces Hong Kong’s status as a forward-thinking financial hub.
The new Virtual Asset Index Series from HKEX will focus on major cryptocurrencies, specifically Bitcoin and Ethereum. By adhering to the stringent regulatory standards set by the European Union, this index aims to offer a clear and trustworthy real-time benchmark for crypto assets.
Peter Chan, the CEO of HKEX Group, highlighted that this index responds to the growing regional interest in digital assets, empowering investors to make well-informed choices and fostering a robust virtual asset market.
The index will determine the prices of Bitcoin and Ethereum using a 24-hour volume-weighted benchmark, which aggregates market values from leading exchanges worldwide. Prices will be refreshed daily at 4:00 p.m. Hong Kong time, and will be presented in US dollars, ensuring that Asia’s benchmarks are in sync with global standards.
