Samsung Asset Management Hong Kong (SAMHK), a subsidiary of Samsung's investment arm Samsung Asset Management, will list the "Samsung Active Bitcoin Futures ETF" in Hong Kong on January 13. The Bitcoin Futures ETF will invest primarily in CME Bitcoin Futures and CME Micro Bitcoin Futures.
Samsung Announces Bitcoin Futures ETF
Samsung Asset Management announces plans to list the Bitcoin futures exchange-traded fund (ETF) on the Hong Kong stock market amid increased interest from retail and institutional investors in Hong Kong.
The Samsung Bitcoin Futures Active ETF will track the performance of the Bitcoin spot price by investing in Bitcoin futures products listed on the Chicago Mercantile Exchange (CME). The Bitcoin Futures ETF will invest primarily in CME Bitcoin Futures, with some investments in CME Micro-Bitcoin Futures.
Now, Hong Kong it is the only exchange in Asia where bitcoin futures ETFs can be traded. The other Bitcoin futures ETF markets include Canada, the US, Australia, and some European countries like Switzerland. Samsung Asset Management previously listed the Samsung Blockchain Technologies ETF and the Samsung Asia Pacific Metaverse ETF in Hong Kong.
Park Seong-jin, director of Samsung Asset Management Hong Kong, said:
โHong Kong is the only market in Asia where bitcoin futures ETFs are listed and traded on the institutional market. It will be a new option for investors who are interested in Bitcoin as a competitive product that reflects their risk management expertise.โ
Pro-Crypto Hong Kong Stance
Hong Kong authorities are actively working to turn the city into a crypto hub. It is currently looking for crypto companies to register with the financial regulator and open offices in the city.
During the Hong Kong Web3 Innovators Summit this week, Hong Kong's Financial Secretary Pablo Chan confirmed that the authorities have completed the legislative work to establish a licensing regime for virtual asset service providers.
The Bitcoin price broke above the $18,000 level in the last 24 hours, indicating an increase in positive sentiment among traders. Other cryptocurrencies followed suit, recording a rally in the broader crypto market.
read also: Bitcoin (BTC) gains for the 9th day in a row, $20,000 coming?
The content presented may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrency. The author or publication has no responsibility for your personal financial loss.
