Samsung Will Next To Bitcoin Exchange Trade Fund (ETF), This Is What You Need To Know!

Samsung launched an ETF Bitcoin product in Hong Kong. (Photo; Doc. Finbold)

JAKARTA The technology giant Samsung has its own financial services investment branch called Samsung Asset Management. The plan is that Samsung will release Bitcoin Exchange Exchange Fund (ETF) products. That way, Samsung will be able to provide crypto services to its consumers.

As reported by Cointelegraph, the proposed product is referred to as "Samsung Bitcoin Futures Active ETF" which is expected to launch on January 13 and will be traded on the Hong Kong Stock Exchange.

This Bitcoin ETF product allows investors in Hong Kong to invest in crypto assets. Bitcoin ETF will invest in Bitcoin futures products listed on the Chicago Mercantile Exchange (CME). Two of these products include CME Bitcoin Futures and CME Micro Bitcoin Futures.

According to a Coinpeaker report, Hong Kong has earned a reputation as one of the top financial centers in the Asian region. The country is the only location across Asia where investors can gain exposure to the Bitcoin Futures ETF. This rare scenario is now equivalent to other regions including the United States, Canada, and Switzerland.

Samsung's Bitcoin Futures ETF will complement Hong Kong's Crypto Futures ETF which debuted in the region last year and successfully gained traction. Hong Kong's ETF Futures managed to raise $70 million before trading.

"Hong Kong is the only market in Asia where the ETF futures of Bitcoin are listed and traded on institutional markets. This will be a new option for investors interested in Bitcoin as competitive products that reflect their experience in risk management," said Park Seong-jin, head of Samsung Asset Management Hong Kong.

When the ETF airs, the ETF will offer diversification and facilities for investors to fulfill their demands. Hong Kong was a dynamic area in the early days of the growth of the crypto ecosystem. However, over time, regulators began to tighten its rules.

However, this time Samsung Asset Management has received permission to issue Bitcoin Futures products. With the softening of Hong Kong financial regulators, retail and institutional investors can now join the crypto ecosystem freely.