The Hong Kong Stock Exchange is making a big move. They’re launching a new cryptocurrency index to meet the rising demand for digital assets.

On November 15, Hong Kong Exchanges and Clearing Limited (HKEX) will introduce the “Virtual Asset Index Series.” This index aims to provide a reliable benchmark for Bitcoin (BTC) and Ethereum (ETH) pricing during Asian trading hours.

One of the main goals is to address price differences between various global exchanges. The index will use a 24-hour volume-weighted spot price in US dollars for BTC and ETH, pulling real-time data from major crypto exchanges.

Peter Chan, the Chief Executive of HKEX Group, shared his excitement: “We are pleased to launch the HKEX Virtual Asset Index Series to meet regional demand for this rapidly emerging asset class. By providing a transparent and reliable real-time benchmark, we hope investors can make informed investment decisions. This will support the healthy development of the virtual asset ecosystem and strengthen Hong Kong’s position as an international financial center.”

Meanwhile, Hong Kong regulators are finalizing licenses for nearly a dozen crypto exchanges, including Crypto.com and Bullish. Earlier this year, Bloomberg reported that only licensed platforms will be allowed to operate in Hong Kong.

The Securities and Futures Commission (SFC) will issue permits to digital asset trading platforms that consistently comply with regulations. This ensures a safer trading environment for everyone involved.