SHEIN Stock Futures After IPO: What Is HK0625 and How to Trade It?

SHEIN stock futures give crypto traders direct exposure to one of the most talked-about IPOs of 2026 without needing a traditional brokerage account. 

Shein Global Holdings Limited debuted on the Hong Kong Stock Exchange on September 1, 2026, under ticker 0625, pricing its IPO at HK$48.56 per share and raising approximately HK$13.6 billion or $1.74 billion. 

The listing valued the fast-fashion giant at roughly $26.5 billion, a steep decline from its nearly $100 billion private valuation in 2022. HK0625 perpetual futures, now available on Bitrue, let traders capitalise on SHEIN's post-IPO volatility around the clock.

Key Takeaways

• Shein Global Holdings listed on the Hong Kong Stock Exchange on September 1, 2026, under stock code 0625, with shares falling roughly 9% to 10% on the first trading day.
• HK0625 is the ticker for USDT-settled perpetual futures contracts that track SHEIN's Hong Kong-listed stock price, enabling 24/7 trading with leverage.
• Bitrue offers HK0625 perpetual futures through its TradFi section, allowing traders to go long or short on SHEIN stock price movements using USDT.

What Is HK0625 and SHEIN Stock?

HK0625 is the perpetual futures contract ticker that tracks the price of Shein Global Holdings Limited (HKEX: 0625). 

It allows traders on crypto platforms to speculate on SHEIN's stock price movements using USDT as collateral, without owning the underlying shares.

The SHEIN IPO followed one of the most drawn-out listing journeys in recent corporate history. The company initially filed for a US IPO in 2023, but escalating political pressure from lawmakers over supply chain labour concerns and US-China tensions derailed those plans. 

A pivot to the London Stock Exchange in late 2023 also stalled after Chinese regulators withheld approval. The company finally secured a Hong Kong listing, filing confidentially in July 2025 and completing its debut on September 1, 2026.

Here is what traders should know about the listing:

• SHEIN sold 280 million Class B shares at an IPO price of HK$48.56, near the midpoint of the HK$47.60 to HK$49.50 indicative range.
• The stock fell approximately 9% to 10% on its first day of trading, dropping to around HK$43.72 to HK$44.60.
• Full-year 2025 revenue reached $41.8 billion, up from $38.7 billion in 2024, but revenue growth decelerated sharply from 41.1% in 2023 to 20.7% in 2024 to just 8% in 2025.
• Q1 2026 revenue was $9.05 billion with a net loss of $99 million, reversing a $395 million profit from the same period a year earlier.
• Cornerstone investors include Boyu Capital, Tiger Global, General Atlantic, Tencent Holdings, and UBS.

The HK0625 perpetual futures contract removes the barriers that typically prevent crypto-native traders from accessing newly listed Hong Kong equities. There is no need for a Hong Kong brokerage account, currency conversion, or compliance with traditional market hours. 

The contract is settled in USDT and trades continuously, meaning positions remain active even after the Hong Kong Stock Exchange closes for the day. Bitrue's TradFi section hosts HK0625 alongside other tokenised stock futures, indices, and commodities.

Read also: What Are Tokenized Stocks?

Why Trade SHEIN (HK0625) Perpetual Futures?

SHEIN's post-IPO price action presents exactly the kind of environment where perpetual futures contracts become most useful. 

The stock's first-day decline of roughly 10% signals that the market is actively repricing the company's value, creating directional opportunities in both directions.

Here is why traders are using HK0625 perpetual futures:

• Go long or short freely. 

Traditional stock markets restrict short selling through borrowing requirements and regulatory rules. Perpetual futures allow traders to open short positions just as easily as long ones, making it possible to profit from declines as well as rallies.

• Hedge existing exposure. 

Investors holding SHEIN-related assets, crypto portfolios correlated with e-commerce sentiment, or broader Hong Kong equity positions can use HK0625 shorts as a hedge against downside risk without liquidating their holdings.

• Capitalise on post-IPO volatility. 

Newly listed stocks often experience sharp price swings in the weeks following an IPO as institutional lock-up periods expire, analyst coverage begins, and earnings expectations get recalibrated. HK0625 futures let traders position around these catalysts.

• Trade 24/7. 

The Hong Kong Stock Exchange operates during limited hours. HK0625 perpetual futures trade continuously, meaning traders can react to after-hours news, global macro developments, or overnight sentiment shifts without waiting for the market to reopen.

• Use leverage with USDT collateral. 

Perpetual futures allow traders to control larger positions with less capital. While leverage amplifies both gains and losses, it enables capital-efficient positioning for traders with strong conviction on SHEIN's direction.

SHEIN's slowing revenue growth, compressed valuation, and first-day weakness create a clear thesis for bears. 

On the other side, a $26.5 billion valuation for a company generating $41.8 billion in annual revenue may look attractive to those betting on a post-IPO recovery. Bitrue Futures gives traders the tools to express either view.

Read also: How to Buy Tokenized Stocks?

How to Trade SHEIN Stock Futures (HK0625) on Bitrue

Bitrue has listed HK0625/USDT perpetual futures through its TradFi derivatives section, giving traders direct access to SHEIN stock price exposure. Here is how to get started:

1. Create a Bitrue account and complete identity verification (KYC). Registration takes minutes, and KYC clearance unlocks full access to futures trading features.
2. Fund the account by depositing USDT. Transfer USDT from an external wallet or purchase directly through Bitrue's buy/sell interface. Move funds to the futures wallet to use as collateral.
3. Navigate to the HK0625 perpetual futures trading page. The contract is located in the TradFi section under tokenised stock derivatives. Select the HK0625/USDT pair.
4. Choose a direction (long or short), set leverage, and place a market or limit order. A market order executes immediately at the current price. A limit order lets traders set a specific entry price and wait for the market to reach it.
5. Monitor the position and manage risk. Set stop-loss and take-profit levels to automate exits. Perpetual futures have no expiry date, so positions remain open until manually closed or liquidated, making ongoing risk management essential.

Traders should note that leverage amplifies both gains and losses. Starting with lower leverage while learning the contract's price behaviour is a prudent approach, particularly for a newly listed stock where volatility patterns are still forming.

Traders exploring SHEIN stock exposure through perpetual futures can create a Bitrue account to access the HK0625 contract with USDT collateral.

Conclusion

SHEIN's Hong Kong IPO marks a significant moment for global retail and cross-border e-commerce, but the stock's first-day decline and slowing growth trajectory have created a divided market. 

HK0625 perpetual futures bridge the gap between traditional equities and crypto trading infrastructure, giving Bitrue users the ability to trade SHEIN's stock price 24/7 with USDT collateral and directional flexibility. 

Whether the thesis is bullish recovery or bearish continuation, Bitrue's TradFi section provides the tools to act on it.

FAQ

What Is HK0625?

HK0625 is the ticker for USDT-settled perpetual futures contracts that track the stock price of Shein Global Holdings Limited (HKEX: 0625) on the Hong Kong Stock Exchange.

When Did SHEIN Go Public?

Shein Global Holdings debuted on the Hong Kong Stock Exchange on September 1, 2026, with an IPO price of HK$48.56 per share.

Can I Short SHEIN Stock on Bitrue?

Yes, HK0625 perpetual futures on Bitrue allow traders to open short positions on SHEIN's stock price, profiting from price declines.

Is HK0625 Available on Bitrue?

Yes, Bitrue lists HK0625/USDT perpetual futures in its TradFi derivatives section, enabling 24/7 trading with USDT collateral.

What Happened to SHEIN Stock on Its First Day?

SHEIN shares fell approximately 9% to 10% on the first day of trading, dropping from the HK$48.56 IPO price to around HK$43.72 to HK$44.60.

Disclaimer: The views expressed belong exclusively to the author and do not reflect the views of this platform. This platform and its affiliates disclaim any responsibility for the accuracy or suitability of the information provided. It is for informational purposes only and not intended as financial or investment advice.