Samsung's asset management arm has launched a bitcoin futures exchange-traded fund (ETF). crypto cryptocurrency $BTC
Samsung’s asset management arm has launched a bitcoin futures exchange-traded fund . The new actively managed ETF is listed and traded on the Hong Kong stock exchange. It seeks “to provide economic exposure to the value of bitcoin,” Samsung detailed.Samsung Asset Management Ltd., a wholly owned subsidiary of Samsung Asset Management, a member of the Samsung Group of companies, launched a bitcoin futures exchange-traded fund on Friday called “Samsung Bitcoin Futures Active ETF.
The investment objective of the sub-fund is to seek to provide economic exposure to the value of bitcoin by investing predominately in front-month bitcoin futures contracts and/or micro bitcoin futures contracts traded on the Chicago Mercantile Exchange . While bitcoin is priced in U.S. dollars, units of the Samsung Bitcoin Futures Active ETF are listed and traded in Hong Kong dollars on the Stock Exchange of Hong Kong , the company clarified.
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