CSOP CEO: Plans to launch an inverse Ethereum ETF

On July 23rd, according to reports from Dongwang, the reverse product FI Southern Bitcoin issued by Southern Dongying has been listed on the Hong Kong Stock Exchange, becoming Asia's first reverse-operated cryptocurrency ETF. It is reported that this product uses a futures-based simulated investment strategy and directly invests in the most recent monthly Bitcoin futures traded on the Chicago Mercantile Exchange (CME). The initial listing price is about 7.8 Hong Kong dollars per unit, with 100 units per hand and an annual management fee of 1.99%. The initial subscription size is $30 million (about HKD 2.34 billion). In addition, according to Ding Chen, the CEO of Southern Dongying, in an interview with foreign media, Southern Dongying will also strive to launch a reverse Ethereum ETF.