Samsung Asset Management to list Bitcoin ETF on Hong Kong Stock Exchange

Samsung Asset Management received approval to list its Bitcoin (BTC) Futures Exchange Traded Fund (ETF) on the Hong Kong Stock Exchange by Jan. 13, according to local media reports.

On Oct. 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.

Consequently, Samsung Asset Management filed an application to offer its Bitcoin Futures ETF for trading.

The Samsung Bitcoin Active ETF (under the ticker FA SAMSUNG BTC) will be open for trading on Jan. 13 via the Hong Kong Stock Exchange market.

The Samsung ETF will invest in Bitcoin futures products listed on the Chicago Mercantile Exchange (CME). The futures contract will include CME Bitcoin futures and the CME micro-Bitcoin futures.

As a result, retail investors will be able to allocate small amounts to the Bitcoin ETFs, given that the contract units and margins are small.

Head of Samsung Asset Management Park Seong-jin said:

The Samsung Bitcoin ETF will be a new option for investors who are a new option for investors who are interested in Bitcoin as a competitive product.”

Meanwhile, Samsung Asset Management had earlier listed its Global blockchain industry ETF and Asia Pacific Metaverse ETF for trading on the Hong Kong Stock Exchange market.

Bitcoin Futures ETF in Asia

About a month ago, CSOP Asset Management became the first firm to list its Bitcoin Futures ETF for trading on the Hong Kong stock exchange market.

According to a performance report released by CSOP on Jan 11, its Bitcoin Futures ETF recorded about $12 million in overall trading volume. Its daily trading volume stood at about $630,000.

Hong Kong-based Huasheng Securities reportedly subscribed for the first set of the CSOP Bitcoin Futures ETFs.

The post Samsung Asset Management to list Bitcoin ETF on Hong Kong Stock Exchange appeared first on CryptoSlate.

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