Samsung investment arm considering spot-Bitcoin ETF in Hong Kong

Hot connected the heels of its Bitcoin (BTC) futures exchange-traded money (ETF) successful Hong Kong, Samsung Asset Management has indicated it's considering the motorboat of a spot Bitcoin ETF connected the city's speech if policies let for it.

In an interview with Bloomberg published connected Jan. 13, Hong Kong main enforcement for Samsung Asset Management, Sam Park, said: “It truly depends connected however argumentation is going to beryllium developed,” adding that the Hong Kong administrators are “clearly” funny successful processing the metropolis into a crypto hub.

An ETF expert astatine Bloomberg Intelligence, Rebecca Sin, noted that “Hong Kong is good positioned to go Asia’s crypto gateway,” and expects spot Bitcoin and Ether (ETH) products to beryllium allowed determination by the year's end.

A spot marketplace refers to a marketplace wherever the speech of fiscal instruments is settled immediately, portion a futures marketplace refers to a marketplace wherever participants bargain and merchantability contracts to beryllium settled astatine a aboriginal date, with products considered derivatives.

Samsung launched its Bitcoin futures ETF connected the Hong Kong Exchanges and Clearing Market connected Jan. 13, with the speech presently the lone 1 successful Asia which supports the trading of Bitcoin futures ETFs.

As of the clip of publishing, the ETF has already recorded a 4.2% increase successful its price.

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Other Hong Kong futures ETFs person besides seen interest, with 2 ETFs managed by CSOP Asset Management having raised $73.6 cardinal successful investments up of their Dec. 16 listing.

As noted by CSOP enforcement Yi Wang astatine the time: “The ETFs bash not put successful carnal Bitcoin and [...] determination are much regulatory safeguards for investors compared to tokens traded connected unregulated platforms.”

Related: Hong Kong watchdog aims to restrict retail traders to liquid products

In a Twitter Spaces interrogation with Bloomberg Asia connected Jan. 5, Animoca Brands Chairman Yat Sui indicated that Hong Kong was looking much attractive arsenic a listing determination compared to the United States, noting:

“The U.S. evidently seemed to beryllium the marketplace astatine the clip that was possibly a bully one. But I would reason that, you know, places similar Asia, peculiarly Hong Kong, are starting to look beauteous charismatic with their virtual plus policies, [...] with their tendency to fundamentally beryllium a person successful the space.”

A deficiency of regulatory clarity has often been cited arsenic the crushed wherefore truthful overmuch crypto enactment is leaving the United States, and has prompted lawmakers to propulsion for crypto regulations arsenic soon arsenic possible.