HKEX to launch virtual asset index series in boost for Hong Kong’s crypto hub ambitions
The index series, launching on November 15, will offer benchmarks for bitcoin and ether
Hong Kong Exchanges and Clearing (HKEX), the operator of Asia’s third-largest stock exchange, will launch a virtual asset index series to offer a reliable price benchmark for cryptocurrencies to support the city’s bid to become a leading digital assets hub.
The HKEX Virtual Asset Index Series will offer benchmarks for bitcoin and ether pricing in Asian time zones, according to an HKEX statement on Monday.
The gauges, which will be launched on November 15, aim to address the fragmented pricing of virtual assets by providing investors with a single and reliable price reference, as these assets often see pricing discrepancies across global exchanges, the statement said.
The index series will meet the region’s growing demand for emerging digital assets, Bonnie Chan Yiting, CEO of HKEX, said in the statement.
“By offering transparent and reliable real-time benchmarks, we seek to enable investors to make informed investment decisions, which will in turn support the development of the virtual-asset ecosystem and reinforce Hong Kong’s role as an international financial centre,” she said.
