Samsung Asset Management is the investment arm of the massive financial services provider Samsung. According to a recent article, the planned product, the "Samsung Bitcoin Futures Active ETF," is scheduled to float on January 13 and will begin listing on the Hong Kong Stock Exchange.
The proposed product will provide both individual and institutional players in Hong Kong with an opportunity to engage in the emerging asset class simultaneously, making it more accessible to the former group.
According to report (1), the Bitcoin Futures Exchange Traded Fund (ETF) will make investments in Bitcoin futures products listed on the Chicago Mercantile Exchange (CME).
Crypto-Friendly Stance of Hong Kong
In recent years, Hong Kong has established a firm name for itself as one of the most important financial hubs in the Asian area.
The nation is the only place in Asia where investors can have exposure to Bitcoin Futures ETFs. Due to the highly unusual occurrence, this territory is now on par with others, such as the United States of America, Canada, and Switzerland.
The Samsung Bitcoin Futures Exchange Traded Fund is going to complement the Hong Kong Crypto Futures Exchange Traded Fund, which made its debut in the region a year ago and has gained much traction, riding on the $70 million that it raised before its listing for trading. The Hong Kong Crypto Futures Exchange Traded Fund debuted in the region a year ago.
Bitcoin futures exchange-traded funds are only published and exchanged in the institutional market in Hong Kong, making it the only market in Asia to offer such products.
"It will be a new choice for investors interested in Bitcoin as a competitive product that reflects their experience in risk management," said Park Seong-jin, president of Samsung Asset Management Hong Kong. "It will be a competitive product reflecting their risk management experience."
When the ETF is fully operational, it will provide investors with both diversification and a way to satisfy their requirements.
In the early days of crypto currency, many major crypto companies decided to move their HQ's to Hong Kong since the place provided a dynamic environment for crypto ecosystem.
As time passed, the regulatory methods became more stringent, and businesses like the now-defunct FTX left the country's borders to establish themselves in other locations.
In 2022, the Hong Kong financial regulator decided to relax some of the stringent market entry yardsticks it had previously implemented and revealed plans to do away with the requirement that traders have a crypto trading capital of $1 million to participate in the industry.
As a result of this change, retail investors will now face fewer obstacles when trying to enter the ecosystem.
It is possible to say that the area is living up to its commitments because it has given Samsung Asset Management permission to launch a product called Bitcoin Futures, which benefits investors at both the retail and institutional levels.
During this time, Samsung as a brand has continued to demonstrate unshakable support for Web 3.0 and innovative solutions enabled by blockchain technology.