The latest company to enter the Bitcoin (BTC) exchange-traded fund (ETF) market is Samsung Asset Management Hong Kong (SAMHK), which will begin listing the “Samsung Bitcoin Futures Active ETF” on the Hong Kong stock market on January 13.
What happened previously?
To give regular investors access to crypto assets, the Hong Kong Securities and Futures Commission (SFC) announced intentions to allow ETF providers to offer futures contracts on its exchanges on October 31.
As a result, Samsung Asset Management submitted a request to make its Bitcoin Futures ETF available for trading.
On January 13, the Hong Kong Stock Exchange market will commence trading in the Samsung Bitcoin Active ETF (traded under the ticker FA SAMSUNG BTC).
About SAMHK
SAMHK is a division of Samsung Asset Management, the company’s investment arm. The company also lists the Asia Pacific Metaverse ETF and the Global Blockchain Industry ETF.
By investing in CME Bitcoin Futures and CME Micro-Bitcoin Futures, the new BTC futures ETF will track Bitcoin’s current price. Governments and institutional investors in the area are becoming more interested at the time of its launch.
What’s up with Hong Kong’s Crypto ecosystem?
The sole Asian location for trading Bitcoin future ETFs at the moment is Hong Kong. The Securities and Futures Commission (SFC) approved CSOP Asset Management’s applications, making it the first business to list a Bitcoin Futures ETF for trading on the Hong Kong stock exchange. Additionally, Mirae Asset Global Investments is working to make futures-based crypto asset ETFs available to investors in the area.
The Hong Kong government has hinted at implementing a required licensing program for platforms that would enable retail crypto trading to recover its status as a global center of cryptocurrency enterprises.
