crypto strategy

Samsung Bitcoin Future Active ETF will hit the Hong Kong stock market on January 13

The subsidiary of Samsung’s investment arm – Samsung Asset Management Hong Kong (SAMHK) – has announced its intention to list Samsung Bitcoin Futures Active ETF on the Hong Kong stock market from January 13.

According to the official announcementthe fund in question is a sub-fund of Samsung ETFs Trust III, an umbrella mutual fund incorporated under the laws of Hong Kong.

Samsung Bitcoin Futures Active ETF

The Samsung Bitcoin Futures Active ETF seeks to provide economic exposure to the value of BTC by investing in Bitcoin futures products listed on the Chicago Mercantile Exchange (CME). Retail and institutional investors will be able to gain exposure to Bitcoin. The fund, however, does not invest directly in the crypto asset.

Detailing the fund’s investment strategy, notes the Samsung site,

“In seeking to achieve the investment objective of the Sub-Fund, the Investment Manager adopts an active investment strategy in which it will enter and have exposure of up to 100% of the Net Asset Value (“NAV”) of the Sub-Fund in Bitcoin Futures on CME.”

Following the development, Park Seong-jin, head of Samsung Asset Management Hong Kong, said in a statement:

“Hong Kong is the only market in Asia where Bitcoin futures ETFs are listed and traded on the institutional market. It will be a new option for investors who are interested in Bitcoin as a competitive product reflecting their experience in risk management.

The latest offering follows Samsung Asset Management’s listing of Samsung Blockchain Technologies ETF and Samsung Asia Pacific Metaverse ETF in the region, responding to growing demand for Web3-related exposure.

The Hong Kong Crypto Ecosystem

Currently, Hong Kong is the only Asian location for trading Bitcoin future ETFs. CSOP Asset Management, which has filed its records with the Securities and Futures Commission (SFC), became the first company to list its Bitcoin Futures ETF for trading on the Hong Kong stock market. Mirae Asset Global Investments is also in the process of offering futures-based crypto asset ETFs to investors in the region.

The Hong Kong government plans to reclaim its position as a global hub for crypto firms and even suggests to launch a compulsory licensing program for platforms that will enable retail crypto trading.

More recently, the Legislative Council added a new Amendment to the Anti-Money Laundering and Anti-Terrorist Financing (Amendment) Bill 2022 to suit the crypto industry, introducing a licensing regime for asset servicing providers virtual (VASP). Under the new legislation, deceptive crypto advertisements will face severe crackdowns, while fraudulent transactions will carry heavy penalties as well as jail time.

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