• Samsung Asset Management is launching a Bitcoin ETF in Hong Kong.
• The Samsung Bitcoin Futures Active ETF seeks to provide performance similar to spot BTC by investing in bitcoin futures products listed on the Chicago Mercantile Exchange (CME).
• This new option for investors who are highly interested in Bitcoin promises to further expand awareness about bitcoin and access to bitcoin exposure in the region.
Samsung Launches Bitcoin ETF in Hong Kong
Samsung Asset Management has announced the launch of a new Bitcoin exchange-traded fund (ETF) in Hong Kong. The Samsung Bitcoin Futures Active ETF seeks to obtain a performance similar to spot BTC by investing in CME-listed bitcoin futures products.
Overview of the ETF
The Samsung Bitcoin Futures Active ETF (3135:HK) is designed as a competitive product with long-term futures-based ETF know-how and risk management experience according to Park Seong-jin, head of Samsung Asset Management’s Hong Kong branch. It offers investors an easy and regulated avenue for getting exposure to fiat price fluctuations of the underlying asset without having possession of it themselves –– gold or BTC.
Mainstream Adoption Milestone
This launch marks a significant mainstream adoption milestone as it allows investors to take advantage of this asset’s value proposition that includes censorship resistance and sovereign digital money. However, they will not be able to enjoy these features unless they purchase and self-custody BTC themselves, which can be done quite easily with available resources on the web.
Commitment from Financial Secretary
The latest crypto market rout hasn’t deterred Hong Kong from seeking to become a major hub for the industry with its financial secretary, Paul Chan, recently reiterating that commitment as well as working towards attracting new businesses from all over the world. The city’s first BTC-linked ETF, CSOP Bitcoin Futures ETF went live last month.
In conclusion, Samsung’s offering promises expanded awareness about bitcoin and access to bitcoin exposure in Hong Kong while allowing investors an easy way into buying an asset without possessing it themselves through an exchange traded fund.