Key takeaways:
- The investment vertical of Samsung will launch a Bitcoin futures ETF on the regional stock exchange.
- Products listed on the Chicago Mercantile Exchange will be the focus of investment by the Samsung Bitcoins Futures Active ETF.
According to local media sources, Samsung Asset Management has been given permission to list its Bitcoin (BTC) Futures Exchange Traded Fund (ETF) on the Hong Kong Stock Exchange by January 13.
By purchasing Bitcoin futures products offered on the Chicago Mercantile Exchange, the Samsung Bitcoin Futures Active ETF will monitor the development of the current Bitcoin price (CME).
Additionally, a local Korean news agency has revealed that the Bitcoin futures ETF will make minimal investments in CME Micro-Bitcoin Futures and invest predominantly in the CME Bitcoin Futures.
Since the contractual units and margins are small, individual investors will be able to deploy modest amounts to the Bitcoin ETFs.
The Hong Kong government is still dedicated to developing the infrastructure for cryptocurrencies, notwithstanding the present business turmoil caused by the FTX crash.
According to Hong Kong’s financial secretary, Paul Chan, local regulators and the government will be open to working with fintech and cryptocurrency businesses in 2023.
By putting the Bitcoin futures active ETF on the Hong Kong market, Samsung Asset Management expanded its portfolio of international exchange-traded funds (ETFs) that invest in emerging industries.
For investors intrigued by Bitcoin as a competing edge that shows their knowledge of risk analysis and risk management, this new endeavor will be a whole new option, explains Park Seong-jin, head of Samsung Asset Management’s Hong Kong office.
