On July 23, Southbound Dongying launched the first Asian Bitcoin futures daily inverse product (07376) officially listed. The opening price of Southbound Dongying Bitcoin futures daily inverse (-1x) on the first day of listing was approximately HK$7.8 per unit, with a trading unit of 100 and a management fee of 1.99%. It has received an initial investment of about 30 million US dollars. In the morning session on July 23, the product opened at HK$7.925, and with the adjustment of Bitcoin futures spot market, it rose throughout the day, reaching a final increase of 2.56% by the afternoon closing. The investment objective of Southbound Dongying Bitcoin futures daily inverse (-1x) is to provide investment performance that closely tracks the S&P Bitcoin Futures Index Daily Inverse (-1x) before deducting fees and expenses. The product adopts a futures-based simulated investment strategy to achieve the investment objective, directly investing in Bitcoin futures that are traded on the Chicago Mercantile Exchange which will expire soonest on a monthly basis. Wang Zhuofeng, Managing Director and Sales Director (Asia-Pacific) of Southbound Dongying, stated that the product can meet the needs of investors in the Asian time zone, especially for short-term trading. He pointed out that the Bitcoin futures ETF (03066) launched by Southbound Dongying has received positive feedback, showing that investors are confident in emerging asset classes and there is demand for inverse products as well.