Just-In: 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?
- Just In: Nasdaq-Listed VivoPower Raises $19M in Equity to Expand XRP Treasury Holdings
- Solana Price Rallies 5% as Nasdaq-listed VisionSys Launches $2B SOL Treasury Strategy
- XRP Ledger Rolls Out MPT Standard for Real-World Asset Tokenization
- SEC Puts Crypto ETF Approvals On Hold Following U.S. Government Shutdown
- Pi Network Adds DEX and AMM Features To Expand Pi Coin’s Utility
- Cardano Price Forecast As Hashdex Listing Fuels Optimism For $1.27 Breakout
- BONK Price Rally Ahead? Open Interest Jumps as TD Buy Signal Flashes
- Shiba Inu Price to Surge as Whales Buy and Team Commits to Shibarium Growth
- XRP Price Prediction After Ripple CTO David Schwartz Resigns
- SUI Price Eyes $4.5 as Coinbase Futures Listing Sparks Market Optimism
- Chainlink Price Holds $20 Support Amid Tokenization With DTA Standard Progress – Is $47 Next?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
