Samsung's new Bitcoin ETF listing targets both retail and institutional investors.
Samsung’s new Bitcoin ETF listing targets both retail and institutional investors.
Samsung investment arm’s subsidiary – Samsung Asset Management Hong Kong – outlined plans to list Samsung Bitcoin Futures Active ETF on the Hong Kong stock market starting January 13., the fund in question is a sub-fund of Samsung ETFs Trust III, an umbrella unit trust established under Hong Kong law.The Samsung Bitcoin Futures Active ETF seeks to provide economic exposure to BTC’s value by investing in Bitcoin futures products listed on the Chicago Mercantile Exchange .
Following the development, Park Seong-jin, head of Samsung Asset Management Hong Kong, said in a statement,“Hong Kong is the only market in Asia where bitcoin futures ETFs are listed and traded in the institutional market. It will be a new option for investors who are interested in Bitcoin as a competitive product that reflects their experience in risk management.”
The latest offering comes on the heels of Samsung Asset Management listing the Samsung Blockchain Technologies ETF and Samsung Asia Pacific Metaverse ETF in the region, catering to the growing demand for Web3-related exposure.Currently, Hong Kong is the only Asian venue for trading Bitcoin future ETFs. CSOP Asset Management, which submitted its applications to the Securities and Futures Commission ,the first company to list its Bitcoin Futures ETF for trading in Hong Kong’s stock market.
Hong Kong government has been eyeing to reclaim its position as a global hub of crypto companies and evenMore recently, the legislative councila new amendment to the Anti-Money Laundering and Counter-Terrorist Financing Bill 2022 to fit the crypto industry, introducing a licensing regime for virtual asset service providers .
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