New Virtual Asset Index for Bitcoin and Ethereum Coming to Hong Kong

• HKEX is launching a regulated virtual asset index for Bitcoin and Ethereum, providing a unified benchmark for Asia.
• Futu Securities, the first Hong Kong broker offering direct Bitcoin trading, provides incentives like shares and vouchers.

Hong Kong is taking a significant step to strengthen its position in the digital finance sector by announcing the launch of its first-ever Virtual Asset Index Series, set for November 15, 2024. Under management by the Hong Kong Stock Exchange (HKEX) in association with UK data supplier CCData, this index series will offer an Asian time zone consistent reference price for Bitcoin and Ethereum.

By supplying real-time, volume-weighted benchmarks, the launch seeks to solve price differences across worldwide exchanges. For Hong Kong, this is a significant move since it aims to be the hub for digital assets in Asia central.

Hong Kong Aligns with Global Standards for Digital Assets

The index will follow the Benchmark Regulation (BMR) of the European Union, therefore marking the first instance of Hong Kong following such rigorous international financial criteria for digital assets.

This project intends to assist informed investment decisions and improve openness in the digital asset market of the region by means of the 24-hour data generated from top exchanges. Calculated at 4:00 p.m. Hong Kong time, a daily reference price in US dollars provides consistency and dependability for bitcoin trading in the Asia-Pacific area.

Particularly for those concentrated on Bitcoin and Ethereum trading, this new benchmark is likely to inspire investor confidence and provide a strong instrument for market players. Its real-time pricing system helps it to satisfy the needs of a changing crypto economy, therefore linking East and West markets.

Beside that, CNF previously noted that Futu Securities emerged as the first online broker in Hong Kong, providing direct Bitcoin trading for ordinary clients. New investors are also offered incentives such as Bitcoin, supermarket vouchers, and shares in major companies like Alibaba and Nvidia.

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