Samsung Asset Management Hong Kong (SAMHK), a subsidiary of Samsung’s investment arm called Samsung Asset Management, will launch the Samsung Bitcoin Futures Active ETF on the Hong Kong stock market on January 13.
The new move comes amid a surge of interest in Bitcoin from both government and institutional investors in the region.
How does the Samsung Bitcoin futures ETF work?
The ETF tracks Bitcoin’s spot price by investing in Bitcoin futures products listed on the Chicago Mercantile Exchange (CME). Samsung’s ETF will primarily invest in the CME Bitcoin Futures, with some investments in the CME Micro-Bitcoin Futures.
Currently, Hong Kong is the only market in Asia where Bitcoin futures ETFs can be traded. The Samsung Bitcoin Futures ETF joins the Hong Kong Crypto Futures ETF, which already exists.
Park Seong-jin of Samsung Asset Management welcomes the upcoming launch. He wrote:
Hong Kong is the only market in Asia where Bitcoin futures ETFs are listed and traded on the institutional market. It will be a new option for investors interested in Bitcoin as a competitive product that reflects their risk management experience.
– Park Seong-jin
Samsung’s good reputation can bring many investors to the crypto world
This ETF listing offers retail and institutional investors a new way to gain exposure to Bitcoin, which can help bring more investors to the crypto world. Especially with Samsung’s reputation and brand power, the ETF could be an attractive option for investors looking for a way to invest in Bitcoin without holding their own BTC tokens.
Samsung’s step comes at a time when the crypto market finally seems to be reviving. Indeed, the price of Bitcoin surged back above the $18,000 level today, pointing to a possible rise in positive sentiment among traders. Other major crypto coins have also shown nice gains in the past week.
