Samsung enters the Hong Kong stock market with bitcoin futures

A subsidiary of Samsung's investment arm, Samsung Asset Management Hong Kong, plans to list its exchange-traded fund (ETF) for Samsung Bitcoin Futures Active ETF on the Hong Kong Stock Exchange on January 13. The company said that the decision was made against the backdrop of increased interest in cryptocurrencies in the region from the government and institutional investors.. The ETF will track the spot price of Bitcoin and invest in BTC futures products listed on the Chicago Mercantile Exchange (CME). The ETF will primarily focus on CME bitcoin futures. “Hong Kong is the only location in Asia where bitcoin futures ETFs are listed and traded on the institutional market.. Our product is aimed at investors who are interested in bitcoin as a competitive asset,” says Park Seong-jin, head of Samsung Asset Management Hong Kong. Samsung believes that thanks to the reputation and popularity of the brand, the company will be able to attract investors who have long wanted to invest in the crypto industry, but at the same time did not want to buy digital currencies and store private keys on their own. Earlier, the Hong Kong government said that it was receiving many requests to open the headquarters of cryptocurrency companies, so officials do not intend to reduce their activities in the crypto industry due to the crisis.