{"id":70270,"date":"2023-01-14T09:00:59","date_gmt":"2023-01-14T09:00:59","guid":{"rendered":"https:\/\/www.cryptocabaret.com\/?p=70270"},"modified":"2023-01-14T09:00:59","modified_gmt":"2023-01-14T09:00:59","slug":"samsungs-asset-management-arm-launches-bitcoin-futures-etf-in-hong-kong","status":"publish","type":"post","link":"https:\/\/www.cryptocabaret.com\/?p=70270","title":{"rendered":"Samsung\u2019s Asset Management Arm Launches Bitcoin Futures ETF in Hong Kong"},"content":{"rendered":"

\"\"<\/p>\n

Samsung\u2019s asset management arm has launched a bitcoin futures exchange-traded fund (ETF). The new actively managed ETF is listed and traded on the Hong Kong stock exchange. It seeks \u201cto provide economic exposure to the value of bitcoin,\u201d Samsung detailed.<\/strong><\/p>\n

Samsung\u2019s Bitcoin Futures ETF<\/h2>\n

Samsung Asset Management (Hong Kong) Ltd., a wholly owned subsidiary of Samsung Asset Management, a member of the Samsung Group of companies, launched a bitcoin futures exchange-traded fund (ETF) on Friday called \u201cSamsung Bitcoin Futures Active ETF.\u201d<\/p>\n

The new ETF is a sub-fund of Samsung ETFs Trust III, an umbrella unit trust established under Hong Kong law, the company detailed, adding:<\/p>\n

\n

The investment objective of the sub-fund is to seek to provide economic exposure to the value of bitcoin by investing predominately in front-month bitcoin futures contracts and\/or micro bitcoin futures contracts traded on the Chicago Mercantile Exchange (CME).<\/p>\n<\/blockquote>\n

Samsung explained that the actively managed bitcoin futures ETF paves the way \u201cfor investment in future crypto-technology adoption.\u201d However, the company noted that the fund \u201cdoes not invest directly in bitcoin and will not receive any bitcoin from bitcoin futures on CME.\u201d CME is regulated by the U.S. Commodity Futures Trading Commission (CFTC).<\/p>\n

While bitcoin is priced in U.S. dollars, units of the Samsung Bitcoin Futures Active ETF are listed and traded in Hong Kong dollars on the Stock Exchange of Hong Kong (SEHK), the company clarified.<\/p>\n

The bitcoin futures ETF is managed by Samsung Asset Management (Hong Kong) Ltd. while HSBC Institutional Trust Services (Asia) Ltd. is the fund\u2019s trustee and registrar. The fund \u201cwill enter into and have exposure of up to 100%\u201d of its net asset value (NAV) in Bitcoin Futures on CME, the company added.<\/p>\n

The newly launched ETF is not Samsung Asset Management\u2019s only crypto-related fund. In June last year, the Hong Kong firm launched \u201cSamsung Blockchain Technologies ETF\u201d and \u201cSamsung Asia Pacific ex NZ Metaverse Theme ETF.\u201d<\/p>\n

What do you think about Samsung Asset Management launching a bitcoin futures ETF? Let us know in the comments section below.<\/strong><\/em><\/p>\n

Powered by WPeMatico<\/a><\/small><\/p>\n","protected":false},"excerpt":{"rendered":"

Samsung\u2019s asset management arm has launched a bitcoin futures exchange-traded fund (ETF). The new actively managed ETF is listed and traded on the Hong Kong stock exchange. It seeks \u201cto provide economic exposure to the value of bitcoin,\u201d Samsung detailed. Samsung\u2019s Bitcoin Futures ETF Samsung Asset Management (Hong Kong) Ltd., a wholly owned subsidiary of […]<\/p>\n","protected":false},"author":2,"featured_media":70271,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[309],"tags":[],"class_list":["post-70270","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/posts\/70270","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=70270"}],"version-history":[{"count":0,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/posts\/70270\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/media\/70271"}],"wp:attachment":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=70270"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=70270"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=70270"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}