The largest stock exchange in Hong Kong has announced that it will launch a new crypto index to meet the increasing demand for digital assets.
In a new announcement, Hong Kong Exchanges and Clearing Limited (HKEX) says it will launch its own “Virtual Asset Index Series” on November 15.
The index will aim to provide a reliable benchmark for the pricing of Bitcoin (BTC) and Ethereum (ETH) in the Asian time zone while solving the price differences between the different global exchanges.
According to HKEX, the index will be based on a 24-hour volume-weighted US dollar spot price of BTC and ETH using realtime data from major crypto exchanges.
Says Peter Chan, Chief Executive of HKEX Group,
“We are pleased to launch the HKEX Virtual Asset Index Series to meet regional demand for this rapidly emerging asset class. By providing a transparent and reliable real-time benchmark, we hope Investors can make informed investment decisions, thereby supporting the healthy development of the virtual asset ecosystem and consolidating Hong Kong’s position as an international financial center.”
Hong Kong regulators are currently in the process of finalizing licensing for nearly a dozen different crypto exchanges, including Crypto.com and Bullish.
Bloomberg reported earlier this year that only licensed platforms, or those deemed to be licensed, will be allowed to operate in Hong Kong. Actual permits will eventually be issued by the SFC to digital asset trading platforms that demonstrate consistent compliance.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
The post Hong Kong Stock Exchange To Launch Virtual Asset Index for Bitcoin and Ethereum Pricing in Asian Timezone: Report appeared first on The Daily Hodl.
