Samsung subsidiary to launch a Bitcoin Futures ETF

One of Samsung’s subsidiary branches, Samsung Asset Management in Hong Kong, will be listing a Bitcoin Futures exchange-traded fund (ETF) on the stock market tomorrow in Hong Kong.

The Samsung Bitcoin Futures Active ETF is set to be listed on the Hong Kong stock market on January 13th. The ETF will keep track of Bitcoin price by investing in Bitcoin futures that are listed on the Chicago Mercantile Exchange. The fund will see most of its investment products chosen from the Chicago Exchange’s Bitcoin Futures with other investment products selected from the pool in the Micro-Bitcoin Futures listed on the same exchange. The Samsung Bitcoin Futures ETF will join the Hong Kong Futures ETF as a crypto product listed.

The listing is following a wave of interest from institutional, retail, and national investors in the country.

Bitcoin Future trading in Hong Kong

While other markets across the globe cater to trading Bitcoin Futures, as it stands, the Hong Kong region is the only market on the continent where Bitcoin Futures ETFs are available for trade.

According to Park Seong-jin, the head of Samsung Asset Management Hong Kong:

“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.”

Currently, there is a massive interest in investors looking to gain exposure to the cryptocurrency market. This comes hand-in-hand with no specific legislative framework in the country to regulate how and where cryptocurrency assets are traded. The exposure to Bitcoin (BTC), along with Samsung’s reputation in the tech space and Hong Kong’s regulatory stance, could put a spotlight on the cryptocurrency space without investors needing to enter the market directly. This move could further attract investors into the Asian crypto space.

Related Articles

Gemini’s new HQ in Ireland as part of Euro expansion

Cryptocurrency exchange Gemini has announced Ireland as its European headquarters amidst regulatory uncertainty in the US.

European Risk Board: Crypto requires more oversight

According to the European System Risk Board, cryptocurrency might not be linked to traditional finance but still requires more oversight.

South Korean crypto law tightens for officials

Those in positions of government authority will be required to declare their cryptocurrency holdings if a new bill is passed.

CBDC news: Major amendments to digital ruble bill

Russian lawmakers have proposed significant amendments to the ruble digital currency, allowing non-residents to participate using the CBDC.

See All