Samsung’s Asset Management Arm Launches Bitcoin Futures ETF in Hong Kong

January 14, 2023 Bitcoin.com

Samsung’s Asset Management Subsidiary Launches Bitcoin Futures ETF in Asia

January 13, 2023 The Daily Hodl

Samsung investment arm to launch Bitcoin Futures ETF amid rising crypto interest

January 12, 2023 Coin Telegraph

bitcoin futures

Hong Kong investors can now gain exposure to Bitcoin through Samsung's new ETF listing, launching on Jan. 13.

In Hong Kong, the bell rings for Bitcoin (BTC). Samsung Asset Management Hong Kong (SAMHK), a subsidiary of Samsung's investment arm Samsung Asset Management, is set to list the "Samsung Bitcoin Futures Active ETF" on the Hong Kong stock market on Jan. 13.

The move comes amid a surge in interest from both the government and institutional investors in the region.

The Hong Kong Stock Exchange. Source: thetradenews.com

The ETF, or exchange-traded fund, will track the spot price of Bitcoin by investing in Bitcoin futures products listed on the Chicago Mercantile Exchange (CME). The ETF will primarily invest in the CME Bitcoin Futures, with some investments in the CME Micro-Bitcoin Futures.

Currently, Hong Kong is the only market in Asia where Bitcoin futures ETFs can be traded. The Samsung Bitcoin Futures ETF joins the Hong Kong Crypto Futures ETF, which began trading to the tune of $70 million in 2022. Other markets worldwide include Canada, the U.S., Australia, and some European countries such as Switzerland.

Park Seong-jin, head of Samsung Asset Management Hong Kong, commented:

“Hong Kong is the only market in Asia where Bitcoin futures ETFs are listed and traded in the institutional market. It will be a new option for investors who are interested in Bitcoin as a competitive product that reflects their experience in risk management.”

This ETF listing will provide retail and institutional investors with a new way to gain exposure to Bitcoin, which may help to attract more mainstream investors to the cryptocurrency space. With Samsung's reputation and brand power, the ETF could be an attractive option for investors who are looking for a way to invest in Bitcoin without buying and holding their own private keys directly.

The move by Samsung comes as the price of Bitcoin surpassed the $18,000 level, indicating a potential rise in positive sentiment among traders. Other cryptocurrencies have also followed suit, recording a recovery in the broader crypto market.

In 2022, Samsung Asset Management Hong Kong Limited held $1.4 bn assets under management, while the globally recognized brand of Samsung continues to be actively involved in the crypto space. The South Korean company, valued at over $300 billion, boasts a blockchain wallet while the flagship smartphone, Galaxy S22 comes with a preinstalled crypto.

The ETF is a further indication that the global brand is looking to capitalize on the growing interest in cryptocurrencies.

Samsung Is Investing More Than $35 Million in Latam-Focused Metaverse Initiatives

December 24, 2022 Bitcoin.com

Samsung uses blockchain-based security for devices in its network

October 13, 2022 Coin Telegraph

Coin Telegraph

Samsung’s Knox Matrix uses blockchain technology backing to increase security for all personal smart devices of a user connected to the network.

Tech giant Samsung announced it will utilize blockchain technology to upgrade security protocols for all of its smart devices.

Knox Matrix is its new blockchain-based security solution for “cross-device experiences.” This means the security layer covers all Samsung devices, from smartphones to home appliances, within the network.

Samsung says Knox Matrix will work as an individual's “own private blockchain system,” with all of one’s interconnected devices equipped with the blockchain multi-layered monitoring. This includes electronics such as smartphones but also smart TVs and air conditioners.

The new security upgrade is intended to protect users from exploits of their credentials, while simultaneously making logins more simple.

According to the announcement, all Samsung devices will utilize Knox Matrix and receive a unified SDK, whether they are based on Android, Tizen or another OS.

This comes alongside the company's announcement of its new collaboration with Google to improve multi-smart device experiences in the home.

Samsung Electronics Announces Expanded Partnership With Google To Elevate Smart Home Experienceshttps://t.co/D50NmDtp0v
— Samsung Electronics (@Samsung) October 12, 2022

Samsung has been active in expanding its footprint in the Web3 space.

A blog post from Blockdata on Aug. 16 revealed the company has the most active investor in blockchain-related ventures since September 2021. According to the post, Samsung participated in 13 funding rounds within the industry after a nine-month period.

It has recently backed an upcoming Web3 gaming studio, along with Samsung’s Asset Management division launching a blockchain exchange-traded fund in Hong Kong.

The managing director of Samsung Next also spoke out on the importance of building and investing in the Web3 space at this time.