Hong Kong Stock Exchange to Launch Asia’s First EU-Regulated Crypto Index
The Hong Kong Stock Exchange (HKEX) will launch Asia’s first EU-regulated crypto index on November 15, enhancing investment opportunities and integrating cryptocurrency into the traditional stock market. This initiative is seen as a significant advancement in reinforcing Hong Kong’s status as a progressive financial center.
HKEX's new Virtual Asset Index Series will feature leading cryptocurrencies, Bitcoin and Ethereum. The index adheres to the European Union’s regulatory guidelines, providing a transparent and reliable real-time benchmark for crypto assets. HKEX Group Chief Executive Peter Chan noted that the index meets regional demand for digital assets, aiding investors in making informed decisions and promoting healthy growth in the virtual asset market.
The index will utilize a 24-hour volume-weighted benchmark to calculate Bitcoin and Ethereum prices based on aggregated market values from major global exchanges. Prices will be updated daily at 4:00 p.m. Hong Kong time, reflecting current US dollar values, aligning Asia’s benchmarks with international standards.
HKEX also stated that this index is the first in Hong Kong compliant with the EU Benchmark Regulation (BMR), established to ensure the reliability of financial benchmarks post-2008 financial crisis. This initiative enhances Hong Kong's role as a financial innovator, offering traders new tools for assessing market value in the evolving digital asset landscape.