Samsung Asset Management has made a big move by announcing the launch of its Bitcoin Futures ETF in Hong Kong.
This ETF will track spot Bitcoin’s performance by investing in Bitcoin futures products listed on the Chicago Mercantile Exchange (CME).
Park Seong-jin, the head of Samsung Asset Management’s Hong Kong branch, noted that this ETF will give investors a new option to explore Bitcoin with the added benefit of risk management.
This ETF is the latest development in Hong Kong’s goal of becoming a crypto hub for companies and investors.
The financial secretary, Paul Chan, has also highlighted the state’s success in setting up a licensing framework for virtual asset service providers.
All in all, this Bitcoin Futures ETF launch is a major move for the crypto industry in Hong Kong and could potentially open the door to more investment opportunities in the near future.