“Samsung Bitcoin Futures Active ETF” Listed on Hong Kong Stock Exchange
On January 13, Samsung Asset Management Hong Kong (SAMHK), a division of Samsung Asset Management, the company’s investment arm, plans to float the “Samsung Bitcoin Futures Active ETF” on the Hong Kong stock exchange.
The action is being taken in response to an increase in interest from the local government and institutional investors. Samsung’s action comes after Bitcoin’s price topped $18,000, signaling a potential increase in traders’ positive sentiment.
The only market in Asia where Bitcoin futures ETFs may currently be traded in Hong Kong. The Hong Kong Crypto Futures ETF, which started trading in 2022 with a $70 million market cap, is now joined by the Samsung Bitcoin Futures ETF. Canada, the United States, Australia, and several European nations like Switzerland are additional global marketplaces.
Samsung Asset Management Hong Kong’s head, Park Seong-jin, said:
“Bitcoin futures ETFs are only listed and traded in the institutional market in Hong Kong in Asia. For investors interested in Bitcoin as a competitive product that shows its risk management expertise, it will be a new choice.
Retail and institutional investors will have a new option to access Bitcoin thanks to this ETF filing, which might help draw more mainstream investors into the cryptocurrency industry. Given Samsung’s name and brand strength, the ETF may be a desirable choice for investors searching for a method to purchase Bitcoin without having to use their own money
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