Samsung Asset Management to Launch Bitcoin Futures ETF in Hong Kong

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(Kitco News) – Samsung Asset Management Hong Kong (SAMHK) is the latest company to get involved in the bitcoin (BTC) exchange-traded fund (ETF) space, as it has now been approved to list the “Samsung Bitcoin Futures Active ETF” on the Hong Kong stock market from January 13.

SAMHK is a subsidiary of Samsung’s investment arm, Samsung Asset Management. Other products listed by the company include Global Blockchain Industry ETF and Asia-Pacific Metaverse ETF.

The new BTC futures ETF will track the spot price of Bitcoin by investing in Chicago Mercantile Exchange (CME) Bitcoin Futures and CME Micro-Bitcoin Futures. Its launch comes as interest from governments and institutional investors in the region is on the rise.

The Hong Kong Stock Exchange is currently the only marketplace in Asia that supports Bitcoin futures ETF trading. Users of the exchange have access to the CSOP Bitcoin Futures ETF, which launched in December after raising $53.9 million. A performance report released by CSOP Asset Management on January 11 shows that the ETF product CSOP Bitcoin Futures has seen an aggregate trading volume of around $12 million since its launch, with a daily trading volume of $630,000.

“Hong Kong is the only market in Asia where Bitcoin futures ETFs are listed and traded in the institutional market,” said Park Seong-jin, head of Samsung Asset Management Hong Kong. “It will be a new option for investors interested in bitcoin as a competitive product reflecting their experience in risk management.”

Retail and institutional investors in the region now have a new way to gain exposure to Bitcoin in a law-compliant way without having to worry about self-custody or managing their own private keys. While many in the crypto community appreciate the ability to hold their own assets, the broader investment community is more comfortable with the use of trusted custodians.

Samsung has been one of the most active brands when it comes to engaging in the nascent digital asset market. Samsung Asset Management Hong Kong Limited had a total of $1.4 billion in assets under management in 2022, while Samsung preinstalls its own blockchain wallet on all Galaxy S22 smartphones.

This latest move indicates that the company is dedicated to capitalizing on the growing popularity of cryptocurrencies as it seeks to position itself to serve the global community as cryptos go mainstream.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure the accuracy of the information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. This is not a solicitation to trade commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article accept no responsibility for loss and/or damage resulting from the use of this publication.

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