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Samsung’s Bitcoin Futures ETF Listing in HK: Crypto Investing in the City Gets a Boost

Posted on 13. January 2023 By admin

• Samsung Asset Management has received approval to list its Bitcoin Futures ETF on the Hong Kong Stock Exchange on January 13th.
• Most of the Bitcoin Futures ETF investments will be in CME Bitcoin Futures and some will be in CME Micro-Bitcoin Futures.
• The government of Hong Kong is taking steps to transform the city into a global cryptocurrency hub.

Samsung Asset Management has recently been given the green light to list their Bitcoin Futures ETF on the Hong Kong Stock Exchange on the 13th of January. This is a monumental move for the company, as it will open up a new avenue of investing to people who are interested in Bitcoin as a competitive product that reflects their experience in risk management.

The ETF will mainly invest in CME Bitcoin Futures and CME Micro-Bitcoin Futures, which are both traded on the Chicago Mercantile Exchange. Park Seong-jin, the head of Samsung Asset Management in Hong Kong, commented on the listing: “Hong Kong is the only market in Asia where bitcoin futures ETFs are listed and traded in the institutional market. It will be a new option for investors who are interested in Bitcoin as a competitive product that reflects their experience in risk management.”

The government of Hong Kong is also taking steps to make the city a global cryptocurrency hub. They are encouraging cryptocurrency businesses to set up shop in the city and register with the relevant financial authorities. Paul Chan, Hong Kong’s Financial Secretary, commented on the matter at the Hong Kong Web3 Innovator Summit: “We are working to develop a licensing system for virtual asset service providers that will be of international standard.”

This is an exciting time for the cryptocurrency industry in Hong Kong, as Samsung Asset Management’s Bitcoin Futures ETF listing is just the beginning. With the city’s government taking steps to make the city a global crypto hub and more companies entering the cryptocurrency space, it’s clear that the future of cryptocurrency investing in Hong Kong is looking very bright.

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