While the rise in Bitcoin (BTC) and the crypto money market in general excited investors, a Bitcoin move came from technology giant Samsung. Aiming at greater exposure of investors to BTC, Samsung has announced that it plans to list the “Samsung Bitcoin Futures Active ETF” in Hong Kong.
Samsung Asset Management Hong Kong (SAMHK), a subsidiary of Samsung’s investment arm Samsung Asset Management, will list the “Samsung Bitcoin Futures Active ETF” in Hong Kong on January 13. It was stated that the Samsung Bitcoin Futures Active ETF will track the spot price of Bitcoin by investing mainly in CME Bitcoin futures and CME Micro Bitcoin futures.
It was noteworthy that this move of Samsung came at a time when the interest of both the government and institutional investors in Bitcoin and crypto increased in the region. It is also worth noting that Hong Kong is the only market in Asia where Bitcoin futures ETFs can be traded. Park Seong-jin, head of Samsung Asset Management Hong Kong, commented on the Bitcoin ETF:
“Hong 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 interested in Bitcoin as a competitive product that reflects their experience in risk management.”
Samsung Asset Management, which has taken innovative steps in ETF, has previously listed the Samsung Blockchain Technologies ETF and the Samsung Asia Pacific Metaverse ETF in Hong Kong.