Hong Kong is set to launch Asia's first Bitcoin futures inverse product, the CSOP Bitcoin Futures Daily (-1x) Inverse Product, on July 23, 2024. This exchange-traded fund (ETF), introduced by CSOP Asset Management, allows investors to profit from declines in Bitcoin's price by using a futures-based replication strategy. The fund will invest primarily in short positions of Bitcoin futures traded on the Chicago Mercantile Exchange (CME) and aims to reflect the inverse daily performance of the S&P Bitcoin Futures Index. Following a series of approvals for crypto ETFs in the city, this product highlights Hong Kong's intention to enhance its cryptocurrency offerings and maintain its status as a financial hub. However, CSOP has warned of the extreme volatility associated with inverse ETFs, which could lead to significant losses. The introduction of this product is a continuation of Hong Kong's efforts to attract institutional clients seeking indirect exposure to cryptocurrencies.