Samsung Launches Bitcoin Futures ETF Amid Crypto Market Recovery

Samsung Asset Management Hong Kong (SAMHK), a subsidiary of Samsung’s investment arm Samsung Asset Management, to list the “Samsung Bitcoin Futures Active ETF” in Hong Kong on January 13. The Bitcoin Futures ETF will invest mainly in the CME Bitcoin futures and the CME Micro Bitcoin futures.

Samsung Announces Bitcoin Futures ETF

Samsung Asset Management announces plans to list the Bitcoin futures exchange-traded fund (ETF) on the Hong Kong stock market amid the rise in interest from retail and institutional investors in Hong Kong.

The Samsung Bitcoin Futures Active ETF will track the performance of spot Bitcoin price by investing in Bitcoin futures products listed on the Chicago Mercantile Exchange (CME). The Bitcoin futures 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 other Bitcoin futures ETF markets include Canada, the U.S., Australia, and some European countries such as Switzerland. Samsung Asset Management earlier listed the Samsung Blockchain Technologies ETF and Samsung Asia Pacific Metaverse ETF in Hong Kong.

Park Seong-jin, head of Samsung Asset Management Hong Kong, said:

“Hong Kong is the only market in Asia where bitcoin futures ETFs are listed and traded in the institutional market. It will be a new option for investors who are interested in Bitcoin as a competitive product that reflects their experience in risk management.”

Hong Kong’s Pro-Crypto Stance

Hong Kong authorities are actively working to evolve the city into a crypto hub. It currently seeks crypto companies to register with the financial regulator and open offices in the city.

During the Hong Kong Web3 Innovator Summit this week, Hong Kong’s Financial Secretary Paul Chan confirmed that the authorities have completed the legislative work to set up a licensing regime for virtual asset service providers.

Bitcoin price surpassed the $18,000 level in the last 24 hours, indicating a rise in positive sentiment among traders. Other cryptocurrencies followed suit, recording a recovery in the broader crypto market.

Also Read: Bitcoin (BTC) Gains for the Ninth Successive Day, Is $20,000 Coming?

Varinder is a Technical Writer and Editor, Technology Enthusiast, and Analytical Thinker. Fascinated by Disruptive Technologies, he has shared his knowledge about Blockchain, Cryptocurrencies, Artificial Intelligence, and the Internet of Things. He has been associated with the blockchain and cryptocurrency industry for a substantial period and is currently covering all the latest updates and developments in the crypto industry.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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