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HKEX Launches Virtual Asset Index Series for Bitcoin, Ethereum

HKEX aims to enhance transparency in crypto pricing, fostering a vibrant digital asset ecosystem in Asia.

1 min 15 secOctober 30, 2024

Highlights:

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New index series to provide reliable crypto benchmarks.

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First Hong Kong index compliant with EU regulations.

HKEX Launches Virtual Asset Index Series for Bitcoin, Ethereum

Hong Kong Exchanges and Clearing Limited (HKEX) has announced the launch of its HKEX Virtual Asset Index Series, set to debut on November 15, 2024. This new index series aims to provide reliable benchmarks for Bitcoin and Ethereum pricing, specifically tailored for the Asian trading hours.

 

 

The initiative addresses the frequent price discrepancies observed across global exchanges by offering a unified reference price for these popular cryptocurrencies. Bonnie Y Chan, CEO of HKEX, emphasized that this launch responds to the growing demand for transparent and accurate data in the digital asset market, supporting investors in making informed decisions.

 

A sample.

 

The HKEX Virtual Asset Index Series will feature both a Reference Index and a Reference Rate for Bitcoin and Ethereum. The Reference Index will deliver a 24-hour volume-weighted spot price, sourced from leading virtual asset exchanges and denominated in U.S. dollars. Meanwhile, the Reference Rate will provide daily exchange rates calculated at 4:00 PM Hong Kong time, facilitating financial product settlements.

 

Notably, this series will be the first in Hong Kong to comply with EU Benchmarks Regulation (BMR) standards, reinforcing the city’s position as a key player in the global digital asset ecosystem. As part of a broader strategy to enhance Hong Kong's fintech landscape, HKEX aims to foster a dynamic virtual asset environment that aligns with government initiatives promoting this emerging sector.

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