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<ul class="wp-block-list">
 <li>HKEX’s virtual asset index series, launching on November 15, aims to unify Bitcoin and Ethereum prices for Asia’s investors.</li>  
 <li>The new index addresses global price discrepancies, enhancing investor confidence in the rapidly evolving digital asset market.</li>  
 <li>This initiative supports Hong Kong’s goal to become Asia’s digital asset hub, providing real-time data and benchmarks for informed choices.</li> 
</ul>  
<p>The Hong Kong Stock Exchange is set to <a href="https://t.co/AqdQ8Ukyff" target="_blank" rel="noopener noreferrer nofollow">launch</a> its virtual asset index series on November 15, 2024, to establish a single reference price for Bitcoin and Ethereum for the Asian Time Zone. In this connection, the new index is unique in Hong Kong and is now also made possible because of compliance with <a href="https://www.centralbank.ie/regulation/industry-market-sectors/securities-markets/benchmarks-regulation#:~:text=The%20Benchmarks%20Regulation%20requires%20contributors,transaction%20input%20data%20where%20possible." target="_blank" rel="noopener noreferrer nofollow">EU Benchmark Regulation</a>. The indexes will be jointly managed and computed by CCData, a data supplier based in the UK.</p>  
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  https://twitter.com/WuBlockchain/status/1850791837478654082
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<h2 class="wp-block-heading" id="h-supporting-the-virtual-asset-ecosystem">Supporting the Virtual Asset Ecosystem</h2>  
<p>This new index series aims to establish reliable benchmark prices for Bitcoin and Ethereum. It will address existing price discrepancies across global exchanges. Peter Chan, Chief Executive of HKEX Group, emphasized the significance of this launch. He stated that the index will meet regional demand for virtual assets. It will also help investors make informed investing choices.</p>  
<p>Hong Kong's objective of becoming Asia's leading hub for digital assets is also aided by this program. The virtual asset sector is rapidly emerging. Consequently, HKEX's launch will provide critical tools for navigating this evolving market. By delivering transparent and real-time benchmarks, <a href="https://cryptonewsland.com/floki-and-flokifi-locker-boost-defi-security-with-karma-partnership/" target="_blank" rel="noopener noreferrer nofollow">HKEX aims to enhance investor confidence</a>. This move is crucial for the healthy development of the virtual asset ecosystem.</p>  
<h2 class="wp-block-heading" id="h-real-time-data-for-informed-investments">Real-Time Data for Informed Investments</h2>  
<p>The index series will feature reference indices for Bitcoin and Ethereum. It will also include reference exchange rates, calculated daily at 4:00 PM Hong Kong time. The reference index will use a 24-hour volume-weighted benchmark spot price. This price is determined based on aggregate market prices from <a href="https://cryptonewsland.com/hong-kong-sfc-concludes-consultation-virtual-asset-trading-platforms/" target="_blank" rel="noopener noreferrer nofollow">major virtual asset exchanges</a>. Moreover, all prices will be denominated in U.S. dollars in real-time.</p>  
<p>This program is in line with the 2022 policy statement on virtual assets released by the Hong Kong government. Hong Kong's government wants to foster a thriving virtual asset sector. Therefore, the launch of the HKEX Virtual Asset Index Series will contribute to a broader understanding of investment trends. It will also provide the public with real-time data and daily reference prices.</p> 
<p>The post <a href="https://cryptonewsland.com/hong-kong-stock-exchange-set-to/" rel="noopener noreferrer nofollow">Hong Kong Stock Exchange Set to Transform Digital Assets with New Index Series</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Hong Kong Stock Exchange Set to Transform Digital Assets with New Index Series

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