Samsung Asset Management to list Bitcoin ETF on Hong Kong Stock Exchange
Samsung Asset Administration acquired approval to listing its Bitcoin (BTC) Futures Change Traded Fund (ETF) on the Hong Kong Inventory Change by Jan. 13, in keeping with native media experiences.
On Oct. 31, the Hong Kong Securities and Futures Fee (SFC) introduced plans to permit ETF suppliers to listing futures contracts for retail traders to realize publicity to crypto property.
Consequently, Samsung Asset Administration filed an utility to supply its Bitcoin Futures ETF for buying and selling.
The Samsung Bitcoin Energetic ETF (beneath the ticker FA SAMSUNG BTC) can be open for buying and selling on Jan. 13 by way of the Hong Kong Inventory Change market.
The Samsung ETF will put money into Bitcoin futures merchandise listed on the Chicago Mercantile Change (CME). The futures contract will embrace CME Bitcoin futures and the CME micro-Bitcoin futures.
Consequently, retail traders will be capable of allocate small quantities to the Bitcoin ETFs, on condition that the contract models and margins are small.
Head of Samsung Asset Administration Park Seong-jin stated:
“The Samsung Bitcoin ETF can be a brand new choice for traders who’re a brand new choice for traders who’re concerned with Bitcoin as a aggressive product.”
In the meantime, Samsung Asset Administration had earlier listed its International blockchain business ETF and Asia Pacific Metaverse ETF for buying and selling on the Hong Kong Inventory Change market.
Bitcoin Futures ETF in Asia
A couple of month in the past, CSOP Asset Management grew to become the primary agency to listing its Bitcoin Futures ETF for buying and selling on the Hong Kong inventory change market.
Based on a performance report launched by CSOP on Jan 11, its Bitcoin Futures ETF recorded about $12 million in total buying and selling quantity. Its every day buying and selling quantity stood at about $630,000.
Hong Kong-based Huasheng Securities reportedly subscribed for the primary set of the CSOP Bitcoin Futures ETFs.
