Samsung Investments Unit Launches Bitcoin Futures ETF Amid Growing Interest in Cryptocurrencies

Bitcoin (BTC) bells ring in Hong Kong. Samsung Asset Management Hong Kong (SAMHK), a subsidiary of Samsung Asset Management, the investment arm of Samsung, plans to list the Samsung Bitcoin Futures Active ETF on the Hong Kong Stock Exchange on January 13.

The move comes amid surging interest from both governments and institutional investors in the region.

An ETF, or Exchange Traded Fund, tracks the spot price of Bitcoin by investing in Bitcoin futures contracts listed on the Chicago Mercantile Exchange (CME). This 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. The Samsung Bitcoin Futures ETF will join the Hong Kong Crypto Futures ETF, which in 2022 he started trading at a scale of $70 million. Other markets around the world include Canada, the United States, Australia, and some European countries such as Switzerland.

Park Seong-jin, 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.”

The listing of this ETF offers retail and institutional investors a new way to gain exposure to Bitcoin and could help attract more mainstream investors to the cryptocurrency space. Samsung’s reputation and brand strength could make ETFs an attractive option for investors looking for a way to invest in Bitcoin without buying and holding their own private keys directly.

Samsung’s move comes as bitcoin’s price rises above $18,000, signaling a possible uptick in positive sentiment among traders. is recording.

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In 2022, Samsung Asset Management Hong Kong Limited had $1.4 billion in assets under management, while the globally recognized Samsung brand continues to be actively involved in the cryptocurrency space. Worth over $300 billion, the South Korean company boasts a blockchain wallet with crypto pre-installed on its flagship smartphone, the Galaxy S22.

The ETF further shows that global brands are looking to capitalize on the growing interest in cryptocurrencies.