Samsung Asset Management to list Bitcoin ETF on Hong Kong Stock Exchange
Received by Samsung Asset Management approval According to local media reports, a Bitcoin (BTC) futures exchange traded fund (ETF) will be listed on the Hong Kong Stock Exchange by January 13.
On October 31, the Hong Kong Securities and Futures Commission (SFC) announced plans to allow ETF providers to list futures contracts for retail investors to gain exposure to crypto assets.
As a result, Samsung Asset Management has submitted an application to offer a Bitcoin Futures ETF for trading.
The Samsung Bitcoin Active ETF (under the ticker FA SAMSUNG BTC) will start trading on the Hong Kong Stock Exchange market on January 13.
The Samsung ETF invests in Bitcoin futures contracts listed on the Chicago Mercantile Exchange (CME). Futures contracts include CME Bitcoin Futures and CME Micro Bitcoin Futures.
As a result, retail investors can allocate small amounts to Bitcoin ETFs given the small contract units and margins.
Park Sung-jin, CEO of Samsung Asset Management, said:
“Samsung’s Bitcoin ETF will be a new option for investors interested in Bitcoin as a competitive product. ”
Meanwhile, Samsung Asset Management had its Global Blockchain Industry ETF and Asia Pacific Metaverse ETF listed on the Hong Kong Stock Exchange market.
Asian Bitcoin Futures ETFs
about a month ago, CSOP Asset Management became the first company to list a Bitcoin futures ETF for trading on the Hong Kong Stock Exchange market.
according to performance report The Bitcoin Futures ETF, released by CSOP on January 11, recorded almost $12 million in total trading volume. The daily trading volume was around $630,000.
Hong Kong-based Huasheng Securities has reportedly joined the first set of the CSOP Bitcoin Futures ETF.
