Samsung launches Bitcoin futures fund

 

 

Samsung launches Bitcoin futures fund

Samsung Asset Management Hong Kong is the latest company to participate in the Exchange Traded Fund (ETF) space in Bitcoin (BTC)

It has now been approved for inclusion of the "Samsung Bitcoin Futures Active ETF" in Hong Kong the stock market begins on January 13.

SAMHK is a subsidiary of Samsung's investment

arm Samsung Asset Management.

Other products listed by the company include ETF Global Blockchain Industry and Asia Pacific Metaverse ETF.

BTC futures ETF will track the spot price of bitcoin by investing in bitcoin futures on the Chicago Mercantile Exchange (CME) and bitcoin futures CME Micro-Bitcoin.

Its launch comes as governments

and investment institutions in the region are increasingly interested.

1. HKSE is currently the only market in
2. Asia that supports trading
3. ETFs in bitcoin futures.

Exchange users have access to the CSOP Bitcoin Futures ETF

which was launched in December after raising $53.9 million.

A performance report released by CSOP Asset Management on January 11 showed that the product of CSOP Bitcoin Futures ETF

It has recorded about $12 million in total trading volume since its launch, with a daily trading volume of $630,000.

Park Seong-jin

President of Samsung Asset Management in Hong Kong

said:

"Hong Kong is the only market in Asia where ETFs are included in bitcoin futures and traded in the institutional market.

It will be a new option for investors interested in bitcoin as a competitive product that reflects their experience in risk management."

Retail and enterprise investors in the region now have a new way of identifying bitcoin in a law-compliant manner without having to worry about obtaining self-custody or managing their own keys.

While many in the crypto community appreciate

the ability to retain their own assets

the broader investment community is more comfortable using trusted trustees.

Samsung has been one of the most active brands when it comes to dealing with the emerging digital asset market.

The company has a total of $1.4 billion in assets under management in 2022

While Samsung has already installed

• its blockchain wallet on all Galaxy S22 smartphones.

• This latest move indicates that

• the company is dedicated to leveraging

• the growing popularity of cryptocurrencies

Looking forward to getting a website to

serve the global community as cryptocurrencies spread..