hkex bitcoin Archives - Coin Engineer https://coinengineer.net/blog/tag/hkex-bitcoin/ Btc, Coins, Pre-Sale, DeFi, NFT Mon, 28 Oct 2024 13:49:27 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://coinengineer.net/blog/wp-content/uploads/2024/04/cropped-Coin-Engineer-Logo-Favicon-2-32x32.png hkex bitcoin Archives - Coin Engineer https://coinengineer.net/blog/tag/hkex-bitcoin/ 32 32 HKEX Announces Launch of Bitcoin and Ethereum Price Indexes https://coinengineer.net/blog/hkex-announces-launch-of-bitcoin-and-ethereum-price-indexes/ https://coinengineer.net/blog/hkex-announces-launch-of-bitcoin-and-ethereum-price-indexes/#respond Mon, 28 Oct 2024 15:00:58 +0000 https://coinengineer.net/blog/?p=31515 The Hong Kong Stock Exchange (HKEX) announced on November 15 that it will launch Bitcoin and Ether price indexes, dubbed the “HKEX Virtual Asset Index Series.” These new indexes aim to provide a reliable indicator for crypto assets by providing a single reference price for Bitcoin and Ether, especially in the Asian time zone. HKEX

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]]> The Hong Kong Stock Exchange (HKEX) announced on November 15 that it will launch Bitcoin and Ether price indexes, dubbed the “HKEX Virtual Asset Index Series.” These new indexes aim to provide a reliable indicator for crypto assets by providing a single reference price for Bitcoin and Ether, especially in the Asian time zone.

HKEX CEO Bonnie Y Chan stated that this initiative aims to provide reliable and transparent real-time indicators for investors in the region, in order to support the development of the virtual asset ecosystem and reinforce Hong Kong’s role as an international financial center. The index will be based on the 24-hour volume-weighted average spot prices of Bitcoin and Ether and will be denominated in US dollars.

The index series will be managed by CCData, a UK-based indicator provider, and will be designed to comply with European Union (EU) benchmark regulations.

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HKEX listed Asia’s first spot crypto exchange-traded funds (ETFs) in April this year. However, these ETFs initially attracted limited investor attention; after a peak of $4.73 million on Oct. 16, daily trading volume for the three Bitcoin ETFs fell to $741,030.

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