• The Hong Kong Inventory Change has introduced the launch of a digital asset index sequence.
• The inventory trade will collaborate with crypto knowledge agency CCData to offer worth knowledge benchmarks for Bitcoin and Ethereum within the Asian time zone.

The Hong Kong Inventory Change, the world's sixth-largest inventory trade, has introduced the launch of a digital asset index sequence.

In accordance with an announcement on Monday, October 28, the index might be printed on November 15, 2024 and can present a dependable benchmark worth reference for Bitcoin (BTC) and Ethereum (ETH) in Asian time zones.

It is a answer to the issue of worth variations seen in BTC, ETH and different digital property on world exchanges, HKEX Group stated in a press launch.

Hong Kong’s progress as a crypto innovation hub

Intimately, this index is the primary index developed in Hong Kong in compliance with the EU Benchmark Regulation (BMR). UK-based crypto knowledge and index platform CCData helps you handle and calculate benchmarks.

Peter Chan, Chief Govt Officer of HKEX Group, commented:

“By offering clear and dependable real-time benchmarks, we assist buyers make knowledgeable funding selections, thereby supporting the wholesome improvement of the crypto-asset ecosystem and supporting our efforts as a world monetary middle. We need to strengthen Hong Kong's place.”

HKEX Group has launched a crypto asset worth reference and real-time knowledge index as Hong Kong more and more emerges as a key cryptocurrency hub. For instance, the approval of Bitcoin and Ethereum spot ETFs in Hong Kong follows the introduction of a regulatory framework to draw extra individuals to the rising asset class. Numerous gamers are launching retail merchandise for the native market.

In latest months, the Hong Kong Securities and Futures Fee (SFC) has been contemplating strengthening investor safety by a stricter authorized and regulatory regime for digital foreign money exchanges. The SFC is at present expediting the licensing course of for digital foreign money exchanges and buying and selling platforms, with candidates anticipated to obtain formal approval by the top of the 12 months.