1 year ago
Samsung Asset Management received approval to database its Bitcoin (BTC) Futures Exchange Traded Fund (ETF) connected the Hong Kong Stock Exchange by Jan. 13, according to section media reports.
On Oct. 31, the Hong Kong Securities and Futures Commission (SFC) announced plans to let ETF providers to database futures contracts for retail investors to summation vulnerability to crypto assets.
Consequently, Samsung Asset Management filed an exertion to connection its Bitcoin Futures ETF for trading.
The Samsung Bitcoin Active ETF (under the ticker FA SAMSUNG BTC) volition beryllium unfastened for trading connected Jan. 13 via the Hong Kong Stock Exchange market.
The Samsung ETF volition put successful Bitcoin futures products listed connected the Chicago Mercantile Exchange (CME). The futures declaration volition see CME Bitcoin futures and the CME micro-Bitcoin futures.
As a result, retail investors volition beryllium capable to allocate tiny amounts to the Bitcoin ETFs, fixed that the declaration units and margins are small.
Head of Samsung Asset Management Park Seong-jin said:
“The Samsung Bitcoin ETF volition beryllium a caller enactment for investors who are a caller enactment for investors who are funny successful Bitcoin arsenic a competitory product.”
Meanwhile, Samsung Asset Management had earlier listed its Global blockchain manufacture ETF and Asia Pacific Metaverse ETF for trading connected the Hong Kong Stock Exchange market.
Bitcoin Futures ETF successful Asia
About a period ago, CSOP Asset Management became the archetypal steadfast to database its Bitcoin Futures ETF for trading connected the Hong Kong banal speech market.
According to a performance report released by CSOP connected Jan 11, its Bitcoin Futures ETF recorded astir $12 cardinal successful wide trading volume. Its regular trading measurement stood astatine astir $630,000.
Hong Kong-based Huasheng Securities reportedly subscribed for the archetypal acceptable of the CSOP Bitcoin Futures ETFs.
The station Samsung Asset Management to database Bitcoin ETF connected Hong Kong Stock Exchange appeared archetypal connected CryptoSlate.
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