Samsung Bitcoin Future Active ETF comes to the Hong Kong Stock Exchange on January 13th

Samsung Bitcoin Future Active ETF comes to the Hong Kong Stock Exchange on January 13th

The subsidiary of the Samsung Investment Arms-Samsung Asset Management Hong Kong (Samhk)-outlined the Samsung Bitcoin Futures Active ETF from January 13th on the Hong Kong.

According to the official announcement, the fund in question is a partial fund from Samsung ETFS Trust III, a Umbrella fund.

Samsungs Bitcoin Futures Active Etf

The Samsung Bitcoin Futures Active ETF strives for an economic commitment to the value of BTC by investing in Bitcoin futures products that are noted at Chicago Mercantile Exchange (CME). Both private investors and institutional investors can get involved in Bitcoin. However, the fund does not invest directly in the crypto asset.

On the Samsung website, the fund's investment strategy was described in detail:

"In order to achieve the investment goal of the sub-fund, the manager uses an active investment strategy in which he will respond and invest up to 100 % of the net inventory value (" NAV ") of the sub-fund in Bitcoin Futures."

After the development, Park Seong-Jin, head of Samsung Asset Management Hong Kong, said in an explanation:

"Hong Kong is the only market in Asia where Bitcoin Futures ETFs are listed and traded on 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."

The latest offer is followed by Samsung Asset Management, which notes the Samsung Blockchain Technologies ETF and the Samsung Asia Pacific Metavers ETF in the region in order to meet the growing demand for web3-related commitment.

Hong Kongs crypto ecosystem

At the moment, Hong Kong is the only Asian trading center for trading with Bitcoin Future ETFs. CSOP Asset Management, which submitted his applications from Securities and Futures Commission (SFC), was the first company to write down his Bitcoin Futures ETF for trading on the Hong Kong stock exchange. Mirae Asset Global Investments is also in the process of offering futures-based crypto-asset ETFs for investors in the region.

The government of Hong Kong has taken care of recapturing its position as a global center of crypto companies, and even indicated that it will start a mandatory license program for platforms that will enable crypto handle in retail.

Recently, the LegiSlativ council added a new change to the draft law 2022 to combat money laundering and terrorist financing (amendment) to adapt it to the crypto industry, and introduced a licensing system for virtual asset service provider (vasps). As part of the new legislation, misleading crypto advertising are strictly used, while fraudulent transactions are punished with high punishments and prison terms.

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