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- Samsung Asset Management is reportedly planning on listing a Blockchain exchange-traded fund (ETF) on the Hong Kong Stock exchange (HKEX).
- The investment division of Samsung Group already has five ETFs listed in Hong Kong, tracking the performance of various major companies.
- Samsung has been an active entity in Bitcoin, crypto, and blockchain adoption.
According to a recent Media report, Samsung Asset Management is planning to list a Blockchain exchange-traded fund (ETF) on the Hong Kong Stock exchange (HKEX).
New ETF To Have A Similar Structure To US-listed BLOK
This ETF by the South Korean Asset manager would have a similar structure to that of BLOK, which is a US-listed ETF. BLOK invests a minimum of 80% of its net assets in equity securities of companies based on blockchain. The Report further signifies that it counts Silvergate Cap, SBI holdings, and CME Group as its largest holdings.
According to Samsung Asset Management, it is planning to brand this ETF under its company name. And that the new ETF listing in the Hong Kong stock market would be the first in Asia as a public blockchain ETF that comprises crypto.
The investment division of Samsung Group is already having five ETFs listed in Hong Kong, tracking global semiconductors, Chinese internet companies, and American tech giants.
Though the asset manager revealed that the new ETF won’t be listed in the South Korean stock market as of now, given the country’s regulations regarding crypto investment.
Furthermore, the asset manager also acquired a 20% stake in Amplify, the US ETF sponsor, earlier in March. It provided it with exclusivity to facilitate Amplify products in Asia. Whereas three new cryptocurrency ETFs were expected to go live recently, something led to further delay with no specific time of the launch specified. Samsung might also list Amplify’s few other ETFs in the Korean markets.
Samsung, the South-Korea based tech giant, has been an active entity in the cryptocurrency space and is becoming a prominent supporter of BItcoin, crypto, and blockchain acceptance and is contributing to the mainstream crypto adoption.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
