Samsung’s asset management arm launches Bitcoin Futures ETF in Hong Kong – Finance

Samsung's asset management arm has launched a Bitcoin futures exchange-traded fund (ETF). The new actively managed ETF will be listed and traded on the Hong Kong Stock Exchange. It is intended to “provide economic exposure to the value of Bitcoin,” Samsung explained.

Bitcoin Futures ETF from Samsung

Samsung Asset Management (Hong Kong) Ltd., a wholly-owned subsidiary of Samsung Asset Management, a member of the Samsung group of companies, on Friday launched a Bitcoin futures exchange-traded fund (ETF) named “Samsung Bitcoin Futures Active ETF.”

The new ETF is a sub-fund of Samsung ETFs Trust III, an umbrella fund established under the laws of Hong Kong, the company said, adding:

The Sub-Fund's investment objective is to provide economic exposure to the value of Bitcoin by investing primarily in Bitcoin futures contracts and/or micro Bitcoin futures contracts traded on the Chicago Mercantile Exchange (CME).

Samsung explained that the actively managed Bitcoin futures ETF paves the way “for investing in the future adoption of crypto technology.” However, the company noted that the fund “does not invest directly in Bitcoin and will not receive Bitcoin from Bitcoin futures on CME.” CME is regulated by the US Commodity Futures Trading Commission (CFTC).

While Bitcoin is valued in U.S. dollars, shares of the Samsung Bitcoin Futures Active ETF will be listed and traded in Hong Kong dollars on the Hong Kong Stock Exchange (SEHK), the company clarified.

The Bitcoin Futures ETF is run by Samsung Asset Management (Hong Kong) Ltd. managed, while HSBC Institutional Trust Services (Asia) Ltd. is the trustee and registrar of the fund. The fund “will gain exposure of up to 100% of its net asset value (NAV) to Bitcoin futures on CME,” the company added.

The newly launched ETF is not the only crypto-related fund from Samsung Asset Management. In June last year, the Hong Kong company launched “Samsung Blockchain Technologies ETF” and “Samsung Asia Pacific ex NZ Metaverse Theme ETF”.

What do you think about Samsung Asset Management launching a Bitcoin futures ETF? Let us know in the comments section below.

Kevin Helms

As a student of Austrian economics, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects, and the interface between economics and cryptography.

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