Samsung Asset Management Hong Kong (SAMHK), a subsidiary of Samsung Asset Management, will list the Samsung Bitcoin Futures Active ETF on the Hong Kong Stock Market on January 13. This comes amid an increase in interest from government and institutional investors in the region.
The exchange-traded fund will tail the spot price of Bitcoin by investing in Bitcoin futures products listed on the Chicago Mercantile Exchange (CME). The ETF will invest in the CME Bitcoin Futures and CME Micro-Bitcoin Futures. The Samsung Bitcoins Futures ETF is following in the footsteps of Hong Kong Crypto Futures ETF which began trading at $70 million in 2022.
Park Seong-jin, head of Samsung Asset Management Hong Kong, believes Hong Kong is the only market in Asia where Bitcoin futures ETFs are listed and traded in the institutional market. He said it will be a new option for investors who are interested in Bitcoin as a competitive product that shows their experience in risk management.
The ETF listing gives retail and institutional investors a new way to gain exposure to Bitcoin. It will help attract more mainstream investors to the cryptocurrency space. The ETF with Samsung’s reputation and brand power will be an attractive option for investors who are looking for a way to invest in Bitcoin without having to buy or hold their own private keys directly. Moreover, Samsung’s Bitcoin ETF comes just when the popular cryptocurrency has surpassed the $18,000 level. This would lead to a potential rise in positive sentiment among traders.