Hong Kong Stock Exchange Launches Cryptocurrency Price Indices for Asian Markets

The Hong Kong Stock Exchange, Hong Kong Exchanges and Clearing Ltd (HKEX), announced that it will introduce the "HKEX Virtual Asset Index Series" on November 15.

This new cryptocurrency price index series aims to offer a reliable and transparent benchmark for cryptocurrencies such as Bitcoin and Ethereum in the Asian time zone.

The series will include separate benchmark indices and rates for each cryptocurrency based on 24-hour spot prices calculated based on volume received from leading crypto exchanges. According to chief executive Bonnie Yi Chan, HKEX’s new offering is in line with the growing interest in digital assets in the region and supports Hong Kong’s emergence as a global financial hub.

HKEX will partner with CCData, a UK-based benchmark provider, to administer the index series, ensuring compliance with EU benchmark regulations.

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The move builds on HKEX’s earlier entry into cryptocurrency markets; in April it launched Asia’s first spot crypto ETFs. However, interest in them has been weak, with daily trading volume recently falling from its October peak of $4.73 million to $741,030.

The introduction of the HKEX Virtual Asset Index series represents another step in the institution’s commitment to expanding the digital asset market in Asia.

Kosta Gushterov

Kоста работи в крипто индустрията от над 4 години. Той се стреми да представя различни гледни точки по дадена тема и харесва сектора заради неговата прозрачност и динамика. В работата си той се фокусира върху балансираното отразяване на събитията и развитието в крипто пространството, като предоставя информация на своите читатели от неутрална гледна точка.