Hong Kong Virtual Asset Consortium Drops Ripple's XRP from Index, Announces Replacement Token

In a surprising twist, TRON, which had faced a drastic decline during the bear market cycle of 2018 to 2020, making a staggering drop of over 98%, showcased a remarkable recovery in 2023, achieving a 100% rally.

The HKVAC also announced the inclusion of several tokens in its global large crypto index. Internet Computer’s (ICP), currently valued at $12.91, Near Protocol’s (NEAR) at $3.37, and Optimism (OP), Injective (INJ), and Immutable (IMX) have been added to the index, according to Cointelegraph.

It is worth noting that the Securities and Futures Commission of Hong Kong emphasized that crypto transactions facilitated by these ETFs must take place through SFC-licensed crypto platforms or authorized financial institutions, ensuring a regulated and secure environment for crypto transactions within the region.

As Hong Kong continues its efforts to embrace the evolving crypto landscape, the HKVAC's latest index revisions reflect the dynamic nature of the crypto market and its impact on traditional financial institutions.