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. CME Micro Bitcoin Futures.
Samsung Launches Bitcoin Futures ETF
Samsung Asset Management has announced plans to list a Bitcoin futures exchange-traded fund (ETF) on the Hong Kong stock market amid growing interest from Hong Kong retail and institutional investors.
The Samsung Bitcoin Futures Active ETF tracks the performance of Bitcoin’s spot price by investing in Bitcoin futures contracts listed on the Chicago Mercantile Exchange (CME). The Bitcoin Futures ETF invests primarily in CME Bitcoin futures and partly in CME Micro Bitcoin futures.
Hong Kong is currently the only market in Asia where Bitcoin futures ETFs can be traded. Other Bitcoin futures ETF markets include Canada, the United States, Australia, and some European countries such as Switzerland. Samsung Asset Management previously listed Samsung Blockchain Technology ETF and Samsung Asia Pacific Metaverse ETF in Hong Kong.
Sung-Jin Park, Head of Samsung Asset Management Hong Kong, said:
“Hong Kong is the only market in Asia where a Bitcoin futures ETF is listed and traded on the institutional market. , this will be a new option.”
Hong Kong’s Crypto Support Stance
Hong Kong authorities are actively working to evolve the city into a cryptocurrency hub. It is now seeking cryptocurrency companies to register with financial regulators and open offices in the city.
Between Hong Kong Web3 Innovator Summit Hong Kong Finance Minister Paul Chan confirmed this week that the authorities have completed legislative work to set up a licensing regime for virtual asset service providers.
Bitcoin’s price has crossed the $18,000 level for the past 24 hours, indicating a surge of positive sentiment among traders. Other cryptocurrencies followed suit, recording a recovery in the broader crypto market.
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