According to recent reports, Samsung’s asset management arm has recently launched a bitcoin future ETF. The new actively managed ETF is listed and traded on the Hong Kong stock exchange. Samsung explained that it aims to provide economic exposure to the value of bitcoin.
Samsung’s Bitcoin Futures ETF
Samsung Asset Managment Limited is a wholly owned subsidiary of Samsung Asset Management firm, a member of the Samsung Group of companies. Last Friday, it launched a bitcoin futures exchange-traded fund ETF known as Samsung’s Bitcoin Future Active ETF.
The company said that the new exchange-traded fund is a sub-fund of the Samsung ETFs Trust III, an umbrella unit trust established under Hong Kong law. They also added that the objective of the investment to the sub-fund is mainly to provide economic exposure to the value of bitcoin by investing predominately in front-month bitcoin futures contracts and micro-bitcoin futures traded on the CM Exchange.
Samsung also stated that the actively managed bitcoin future exchange-traded funds are making way for them to invest in future crypto technology adoption. However, the company also pointed out that the funds have not been invested directly in bitcoin and will not receive any bitcoin from bitcoin futures on CME. The US CFTC regulates Chicago Mercantile Exchange.
ETF has been listed on the Hong Kong stock exchange
Samsung’s asset management arm has recently launched a bitcoin future ETC. The company clarified that while the bitcoin is priced in US dollars, the Samsung Bitcoin Future ETF units are listed and traded in Hong Kong dollars on the Hong Kong Stock Exchange.
The bitcoin future ETF is managed by Samsung Asset Management Limited(Hong Kong), while HSBC Institutional Trust Services (Asia) Limited works as the fund trustee and register. The company also mentioned that the fund would enter into and have 100 per cent total exposure of its net asset value in Bitcoin Futures on CME, which can be helpful for the people.
However, this newly launched ETF is not only a crypto-related fund owned by Samsung Asset Management Limited. Last year, the Hong Kong firm launched two different ETFs, known as Samsung Blockchain technologies ETF and Samsing Asia Pacific ex NZ MetaVerse Theme ETF, respectively.
What are your thoughts as Samsung’s asset management arm has recently launched a bitcoin future ETF? Will it be able to provide economic exposure to the value of bitcoin as the company promises? Let us know in the comments below. And, if you are content informative, share with your family and friends.