Bitcoin

Spot

<div class="intro-text">
 Hong Kong Exchanges and Clearing Ltd. (HKEX) on October 28, <a style="color: #0000ff;" href="https://www.hkex.com.hk/News/News-Release/2024/241028news?sc_lang=en" rel="noopener noreferrer nofollow">announced</a> plans to launch new crypto price indexes, aiming to provide a reliable benchmark for the rapidly expanding digital asset market.
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The “HKEX Virtual Asset Index Series,” set to launch on November 15, will provide a single reference price for crypto assets like Bitcoin and Ether, specifically timed for the Asian market.&nbsp;
According to HKEX’s statement, the series will feature distinct reference indexes for Bitcoin and Ether, along with individual reference rates for each cryptocurrency.
Bonnie Y. Chan, CEO of HKEX, expressed enthusiasm about the new initiative, stating, 
<blockquote>
 “We are delighted to introduce the HKEX Virtual Asset Index Series to meet the region’s growing demand for this fast-emerging asset class. By offering transparent and reliable real-time benchmarks, we aim to empower investors with informed decision-making, supporting the growth of the virtual asset ecosystem and reinforcing Hong Kong’s position as an international financial center.”
</blockquote>
HKEX outlined that the new reference index, denominated in U.S. dollars, will use 24-hour volume-weighted spot prices for bitcoin and ether, drawing data from leading crypto exchanges.&nbsp;
This index series, overseen by UK-registered benchmark provider CCData, will adhere to EU benchmark regulations, ensuring compliance and reliability.
Meanwhile, in April, HKEX <a style="color: #0000ff;" href="https://www.hkex.com.hk/News/News-Release/2024/240430news?sc_lang=en" rel="noopener noreferrer nofollow">announced</a> the listing of Asia’s first spot Virtual Asset (VA) ETFs, expanding Hong Kong’s diverse ETF market and reinforcing its position as a regional leader. Brian Roberts, HKEX’s Head of Equities Product Development, highlighted the new Spot VA ETFs as a pivotal addition to Hong Kong’s exchange-traded product (ETP) ecosystem, offering investors access to a new asset class following the successful launch of VA Futures ETFs. Investor interest has surged, with VA Futures ETFs seeing a significant rise in daily turnover to $51.3 million in early 2024, and ETP offerings in Hong Kong have continued to expand.
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The post <a href="https://defi-planet.com/2024/10/hong-hong-kong-stock-exchange-to-launch-bitcoin-ether-price-indices/" rel="noopener noreferrer nofollow">Hong Hong Kong Stock Exchange to Launch Bitcoin, Ether Price Indices</a> appeared first on <a href="https://defi-planet.com" rel="noopener noreferrer nofollow">DeFi Planet</a>.

Hong Hong Kong Stock Exchange to Launch Bitcoin, Ether Price Indices

DeFi Planet

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