A New Cryptocurrency Futures ETF Is Coming From Samsung

With the launch of Samsung’s new ETF on January 13, investors in Hong Kong can now buy Bitcoin.

In Hong Kong, the Bitcoin bell rings. Samsung Asset Management Hong Kong (SAMHK), a branch of Samsung’s investment arm Samsung Asset Management, will list the “Samsung Bitcoin Futures Active ETF” on the Hong Kong stock market on January 13.

The move comes as the government and institutional investors in the area become more interested.

The stock market in Hong Kong. Thetradenews.com is the source.
The ETF, which stands for exchange-traded fund, will follow the spot price of Bitcoin by buying Bitcoin futures on the Chicago Mercantile Exchange (CME). The ETF will mostly buy CME Bitcoin Futures, but it will also buy some CME Micro-Bitcoin Futures.

Currently, the only place in Asia to trade Bitcoin futures ETFs is Hong Kong. The Hong Kong Crypto Futures ETF, which started selling for $70 million in 2022, is now joined by the Samsung Bitcoin Futures ETF. Canada, the United States, Australia, and some European countries like Switzerland are also important markets.

The head of Samsung Asset Management in Hong Kong, Park Seong-jin, said:

“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.”

This ETF listing will give individual and institutional investors a new way to invest in Bitcoin, which may help to bring more mainstream investors into the cryptocurrency space. With Samsung’s good name and brand power, the ETF could be a good choice for investors who want to invest in Bitcoin but want to avoid buying and holding their private keys.

The move by Samsung comes after the price of Bitcoin went over $18,000, which could mean that traders are becoming more optimistic. Other cryptocurrencies have followed suit, and the crypto market as a whole has seen a recovery.

In 2022, Samsung Asset Management Hong Kong Limited was in charge of $1.4 billion in assets, and the well-known Samsung brand was still very active in cryptocurrency. The South Korean company, worth more than $300 billion, has a blockchain wallet, and its best phone, the Galaxy S22, comes with a cryptocurrency already installed.

The ETF is another sign that the global brand wants to take advantage of people’s growing interest in cryptocurrencies.