Samsung's wealth management administrator has Bitcoin Futures ETF in Hong Kong - Finance

Von Krypto News Österreich

The samsung wealth management branch has launched a listed Bitcoin Futures Fund (ETF). The new actively managed ETF is noted and traded on the Hong Kong stock exchange. It should "offer an economic commitment to the value of Bitcoin," explained Samsung.

Bitcoin Futures ETF by Samsung

Samsung Asset Management (Hong Kong) Ltd., a 100 % subsidiary of Samsung Asset Management, a member of the Samsung group of companies, launched a listed Bitcoin Futures Fund (ETF) with the name "Samsung Bitcoin Futures Active ETF" on Friday.

The new ETF is a partial fund of Samsung ETFS Trust III, a Umbrella fund, which was founded under Hong Kong, explained the company and added:

The investment goal of the sub-fund is to enable economic commitment to Bitcoin by mainly investing in Bitcoin futures contracts and/or Micro-Bitcoin-Futures contracts that are traded on the Chicago Mercantile Exchange (CME).

Samsung explained that the actively managed Bitcoin futures ETF the way "for investments in the future introduction of crypto technology". However, the company found that the fund "does not invest directly in Bitcoin and that no Bitcoin from Bitcoin Futures will be preserved on CME". CME is regulated by the US Commodity Futures Trading Commission (CFTC).

While Bitcoin is rated in US dollar, shares of the Samsung Bitcoin Futures Active ETF are noted and traded on the Hong Kong (Sehk) stock exchange, the company cleared the company.

The Bitcoin Futures-ETF is from Samsung Asset Management (Hong Kong) Ltd. managed while HSBC Institutional Trust Services (Asia) Ltd. the trustee and registrar of the fund. The fund "will go into a commitment of up to 100 % of its net inventory value (NAV) in Bitcoin Futures on CME," added the company.

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

What do you think that Samsung Asset Management puts on a Bitcoin futures ETF? Let us know in the comment area below.

Kevin Helms

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


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