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Samsung Adds Bitcoin to Its Portfolio with Futures ETF

Samsung is launching its new Bitcoin EFT


Samsung Asset Management is launching its new Bitcoin Futures ETF on the Hong Kong stock market on January 13.

The ETF will track spot Bitcoin’s performance by investing in Bitcoin futures products listed on the Chicago Mercantile Exchange (CME).

It will focus mainly on CME Bitcoin Futures, with minor investments in CME Micro-Bitcoin Futures. Park Seong-jin, the head of Samsung Asset Management’s Hong Kong office, said that this will provide a new option for investors who are interested in Bitcoin and want to manage their risk.

Hong Kong is the only primary location in Asia that supports the trade of Bitcoin futures ETF. The government is also looking to become a crypto hub, registering crypto companies with financial regulators and setting up a licensing framework for virtual asset service providers.

Paul Chan, Hong Kong’s financial secretary, said that the state has completed all the legislative work required to make this happen.

With the launch of Samsung’s Bitcoin Futures ETF, Hong Kong investors will now have a new investment option to consider.

This could have a positive effect on the local economy as it could bring in more capital, as well as help to make Hong Kong a crypto hub.

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Roland is a Public Relations & Communications guru with an immense passion for the blockchain and crypto industry. A fusion of his expertise and passion led to the dawn of Optimisus in 2020.