Samsung investment arm’s subsidiary – Samsung Asset Management Hong Kong (SAMHK) – outlined plans to list Samsung Bitcoin Futures Active ETF on the Hong Kong stock market starting January 13.
According to the official announcement, the fund in question is a sub-fund of Samsung ETFs Trust III, an umbrella unit trust established under Hong Kong law.
Samsung’s Bitcoin Futures Active ETF
The Samsung Bitcoin Futures Active ETF seeks to provide economic exposure to BTC’s value by investing in Bitcoin futures products listed on the Chicago Mercantile Exchange (CME). Both retail and institutional investors will be able to gain exposure to Bitcoin. The fund, however, does not invest in the crypto asset directly.
Detailing the fund’s investment strategy, Samsung’s site noted,
“In seeking to achieve the Sub-Fund’s investment objective, the Manager adopts an active investment strategy whereby it will enter into and have exposure of up to 100 of the Sub-Fund’s net asset value (“NAV”) in Bitcoin Futures on CME.”
Following the development, Park Seong-jin, head of Samsung Asset Management Hong Kong, said in a statement,
