Samsung’s Asset Management division has launched an exchange-traded fund (ETF) for bitcoin futures. The new actively managed ETF will be listed and traded on the Hong Kong Stock Exchange. It aims to “provide economic exposure to the value of bitcoin,” Samsung detailed.
Samsung’s Bitcoin Futures ETF
Samsung Asset Management (Hong Kong) Limited, a wholly owned subsidiary of Samsung Asset Management, a member of the Samsung Group, on Friday launched a bitcoin futures exchange-traded fund (ETF), “Samsung Bitcoin Futures Active ETF.” The ETF is listed on the Hong Kong Stock Exchange and is available in the following markets.
The new ETF is a sub-fund of Samsung ETFs Trust III, an umbrella unit trust established under Hong Kong law, the company added, elaborating.
The investment objective of the sub-fund seeks to provide economic exposure to the value of bitcoin by investing primarily in front month bitcoin futures contracts and/or micro bitcoin futures contracts traded on the Chicago Mercantile Exchange (CME) The purpose of this is to.
Samsung explained that the actively managed bitcoin futures ETF would pave the way for “investment in future crypto technology adoption.” However, the firm noted that the fund “does not invest directly in bitcoin and does not receive bitcoin from bitcoin futures on the CME, which is regulated by the U.S. Commodity Futures Trading Commission (CFTC).”
Bitcoin is priced in US dollars, but units of the Samsung Bitcoin Futures Active ETF are listed and traded in Hong Kong dollars on the Hong Kong Stock Exchange (SEHK), the company revealed.
The Bitcoin Futures ETF is managed by Samsung Asset Management (Hong Kong) Limited, while HSBC Institutional Trust Services (Asia) Limited is the trustee and registrar of the fund. The fund will enter and have “up to 100% exposure” of its net asset value (NAV) to CME bitcoin futures, the firm added.
The newly launched ETF is not Samsung Asset Management’s only crypto-related fund. Last June, the Hong Kong firm launched the “Samsung Blockchain Technologies ETF” and the “Samsung Asia Pacific ex NZ Metaverse Thema ETF.”
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