Samsung’s financial branch has unveiled a bitcoin futures exchange traded fund (ETF) on the Hong Kong Stock Exchange. The new actively managed ETF has been listed and is now open for trading, with the goal of providing investors with exposure to the value of bitcoin, Samsung indicated.
Samsung Bitcoin Futures ETF
Samsung Asset Management (Hong Kong) Ltd., a fully-owned subsidiary of the Samsung corporation, announced the launch of a bitcoin futures exchange traded fund (ETF) called the “Samsung Bitcoin Futures Active ETF” on Friday.
The new ETF is a sub-fund of the Samsung ETFs Trust III, an umbrella unit trust established according to Hong Kong regulations, Samsung stated. The fund’s objective is to offer investors economic exposure to the value of bitcoin through investing in microbitcoin futures and/or bitcoin futures contracts on the Chicago Mercantile Exchange (CME).
Samsung clarified that the ETF does not invest directly in bitcoin or receive any bitcoin from CME bitcoin futures, and is regulated by the US Commodity Futures Trading Commission (CFTC). The ETF is denominated in Hong Kong dollars and can be traded on the Hong Kong Stock Exchange (SEHK).
This is not the only crypto-related ETF that Samsung Asset Management has launched lately. In June 2020, the Hong Kong firm unveiled the “Samsung Blockchain Technologies ETF” and the “Samsung Asia Pacific ex NZ Metaverse Theme ETF.”
What are your thoughts on the launch of a bitcoin futures ETF by Samsung Asset Management? Let us know in the comments below.
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