Bloomberg: CSOP to launch Asia's first inverse Bitcoin ETF in Hong Kong

BlockBeats news, July 22, according to Bloomberg, CSOP Asset Management (CSOP) will launch the first inverse ETF linked to cryptocurrency in the Asia-Pacific region in Hong Kong on Tuesday morning - CSOP Bitcoin Futures Daily (-1x) inverse product, the company's CEO said.

BlockBeats Note: Inverse ETF, also known as short ETF or bear ETF, is an exchange-traded open-end index fund that uses leveraged investment tools such as stock index futures and swap contracts to achieve a certain multiple (such as -1x, -2x or even -3x) of the daily tracking target index returns.