Samsung Asset Management (SAM) is reportedly authorized to list its Bitcoin (BTC) Futures Exchange Traded Fund (ETF) on the Hong Kong Stock Exchange (HKSE). With the ticker symbol, FA SAMSUNG BTC, the Samsung Bitcoin Active ETF is slated to debut trading on January 13.
The Hong Kong Securities and Futures Commission (SFC) had on October 31 announced “plans to allow ETF providers to list futures contracts for retail investors.” Following the SFC announcement, Samsung Asset Management had sought permission to offer for trade its BTC Futures ETF.
The Samsung ETF will invest in the Chicago Mercantile Exchange-listed Bitcoin futures products. CME Bitcoin futures and the CME micro-Bitcoin futures would also be included in the said contract. Retail investors would now be allowed to invest in the Bitcoin ETFs’ small contract units and margins.
Park Seong-jin, Head, Samsung Asset Management, said,
The Samsung Bitcoin ETF will be a new option for investors who are interested in Bitcoin as a competitive product.
Prior to this, the Global blockchain industry ETF and Asia Pacific Metaverse ETF were listed for trading by Samsung Asset Management on the HKSE market.
In December, CSOP Asset Management listed its Bitcoin Futures ETF for trading on the HKSE market. A January 11 CSOP performance report states its Bitcoin Futures ETF accounted for $12 million in trading volume, with a daily trading volume of $630,000. The debut subscription of the CSOP Bitcoin Futures ETFs was by Huasheng Securities.
Samsung Asset Management was South Korea’s first ETF to go beyond the 100 trillion Korean won ($79 billion) in assets under management in 2011. SAM had in March 2022 acquired a 20% equity stake in Amplify Holding Company, a U.S. ETF.