The Hong Kong Stock Exchange today launched a virtual asset index series, with reference rates calculated at 4 PM each afternoon

ChainCatcher news, according to Hong Kong media reports, the Hong Kong Stock Exchange will launch a series of virtual asset indices today. This index series will provide a transparent and reliable real-time price benchmark for Bitcoin (BTC) and Ethereum (ETH) pricing in the Asian time zone, offering a unified reference price for virtual assets and addressing the price discrepancies among global exchanges.

Specifically, the reference index is based on the benchmark spot price weighted by the 24-hour trading volume of Bitcoin or Ethereum, calculated from the aggregated market prices of several major virtual asset exchanges, and quoted in USD in real-time. The reference rate is designed for the settlement of financial products and is calculated daily at 4 PM Hong Kong time. The launch of this index series is also a move to establish Hong Kong as a leading digital asset hub in Asia.

The Executive Director of the Intermediaries Division of the Hong Kong Securities and Futures Commission, Yip Chi-hang, previously pointed out that a license for virtual asset trading platforms will be issued by the end of this year, a consultation group for virtual asset trading platforms will be initiated in early next year, and continued support for tokenization and the Ensemble project will be provided.