Samsung Asset Management to List Bitcoin Futures ETF on Hong Kong Stock Exchange
Bitcoin futures ETF listed on Hong Kong Stock Exchange
Samsung Asset Management (SAM HK), the Hong Kong branch of Samsung Investments, launched a Bitcoin futures ETF on the Hong Kong Stock Exchange (HKEX) on the 12th. Trading will begin on the 13th.
“Samsung Bitcoin Futures Active ETF (FA SAMSUNG BTC)” is a financial product that invests in bitcoin futures and micro bitcoin futures on the US CME (Chicago Mercantile Exchange). what you get.
This has the advantage of being able to trade according to Asian time instead of US time while avoiding hacking risks such as leakage of the actual private key. Hong Kong is the only market in Asia where Bitcoin futures ETF trading is possible.
The Securities and Futures Commission of Hong Kong approved the ETF on January 9, 2023. It is the third cryptocurrency-related ETF to be listed on the Hong Kong Stock Exchange. Last year, “Blockchain Technology ETF” and “Asia Pacific Metaverse ETF” were listed.
SAM HK president Sung-jin Park said Hong Kong is the only market in Asia where Bitcoin futures ETFs can be traded.
Samsung Bitcoin Futures Active ETF is a competitive product that reflects the know-how and risk management experience of Samsung Asset Management, which has been managing futures ETFs for a long time. It will be a new option for investors who are highly interested in Bitcoin.
In December 2010, “CSOP Bitcoin Futures ETF” and “CSOP Ethereum Futures ETF” provided by CSOP Asset Management, a subsidiary of China's major asset management company “Southern Fund”, were released. CSOP Bitcoin Futures ETF was listed. A turnover of 122.88 million yen was recorded on the first day.
Relation:Hong Kong's first Bitcoin and Ethereum ETF to be listed today
Samsung Asset Management Hong Kong Branch
Samsung Asset Management Hong Kong (SAM HK) manages funds for South Korea's major institutional investors, including sovereign wealth funds and large pension funds. It was established in November 2007 as the Hong Kong branch of Samsung Asset Management, South Korea's largest asset management company with approximately 30 trillion yen ($233.4 billion) in assets under management.
In June 2022, SAM HK announced the “Samsung Blockchain Technology ETF,” the first blockchain ETF in Asia to invest in blockchain-related companies, and the “Samsung Asia Pacific Metaverse ETF,” which invests in Metaverse projects in the Asian region. rice field.
Bitcoin ETFs have been expected by the industry for several years as an investment product that will contribute to the expansion of the Bitcoin (BTC) market and the improvement of its liquidity. After being rejected by the SEC (Securities and Exchange Commission) in the United States, a Bitcoin futures ETF was first approved in October 2021.
Several investment companies, such as VanEck and Bitwise, have attempted to apply for a “Bitcoin ETF (in-kind)”, but the SEC's policy calls for “risk of market manipulation” and “lack of institutional-level custody.” Reasons for non-approval judgment continue.
Relation:Bitcoin ETF (Exchange Traded Fund) Latest Information Summary