Samsung Announces Bitcoin Futures ETF Launch As Market Recovers

  • Samsung Asset Management to launch Bitcoin futures ETF in Hong Kong.
  • The ETFs will be listed on the Hong Kong Stock Market.
  • Samsung Bitcoins Futures Active ETF will invest in products listed on Chicago Mercantile Exchange.
Samsung Asset Management announced that it plans to launch Bitcoin futures exchange-traded fund (ETF). On January 13, Samsung will list the ETF on the Hong Kong stock market while Hong Kong retail and institutional investors show a rise in interest.
The Samsung Bitcoin Futures Active ETF is being released with the goal of tracking spot Bitcoin’s performance by investing in Bitcoin futures products listed on the Chicago Mercantile Exchange (CME). Moreover, a Korean local news outlet has confirmed that the Bitcoin futures ETF will invest primarily in the CME Bitcoin Futures, alongside minor investments in CME Micro-Bitcoin Futures.
Samsung Asset Management’s Hong Kong head, Park Seong-jin shared,
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.
At present, Hong Kong is the only primary location in Asia that supports the trade of Bitcoin futures ETF. Samsung Asset Management had previously listed the Samsung Blockchain Technologies and Samsung Asia Pacific Metaverse ETF in Hong Kong.
Moreover, Hong Kong is currently aiming to become a crypto hub, seeking to onboard crypto companies and register them with financial regulators. Additionally, Hong Kong’s financial secretary, Paul Chan, said at the Hong Kong Web3 Innovator Summit that the state has achieved all the legislative work required to set up a licensing framework for virtual asset service providers.
The post Samsung Announces Bitcoin Futures ETF Launch As Market Recovers appeared first on Coin Edition.
Source: Binance

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