Next month, the Hong Kong Stock Exchange (HKEX) will break new ground with the introduction of the HKEX Virtual Asset Index Series, Asia’s first crypto-focused stock market index. Set to launch on November 15, this initiative marks a significant integration of cryptocurrencies into the financial framework of one of Asia’s largest trading hubs. Initially, the index will cover two leading cryptocurrencies, Bitcoin and Ethereum, aiming to provide investors with a transparent and accurate real-time benchmark for these digital assets.
This innovative move is set to enhance Hong Kong’s profile as a financial centre, drawing a keen focus on emerging digital asset markets. Positioned to comply with the European Union’s Benchmark Regulation (BMR), the HKEX Virtual Asset Index Series also highlights HKEX’s commitment to international standards. The BMR was introduced post-2008 to bolster the credibility of financial benchmarks, adding a layer of regulatory rigour to the Hong Kong initiative.
HKEX Group Chief Executive Peter Chan expressed his optimism, stating that the new index would help investors make better-informed decisions and support the broader virtual asset ecosystem. The reference price for Bitcoin and Ethereum will be based on a 24-hour volume-weighted benchmark that reflects aggregate values across major global exchanges, providing a reliable standard in USD and updated daily at 4:00 p.m. Hong Kong time.
With this index, Hong Kong stands poised to offer sophisticated investment instruments for crypto assets, aligning the Asian financial hub with the evolving global financial landscape.
