Samsung investment arm considering spot-Bitcoin ETF in Hong Kong

Following Hong Kong’s Bitcoin (BTC) Futures Exchange Listed Fund (ETF), Samsung Asset Management has indicated it is considering launching a spot Bitcoin ETF on Hong Kong exchanges if policy permits. .

In an interview with Bloomberg published Jan. 13, Sam Pak, Hong Kong chief executive of Samsung Asset Management, said, “It depends on how the policy is formulated.” , added that Hong Kong administrators were “obviously” interested. To develop cities into crypto hubs.

“Hong Kong is well-positioned to become Asia’s crypto gateway,” said Bloomberg Intelligence ETF analyst Rebecca Singh. I expect.

Cash market refers to a market in which exchanges of financial instruments are settled immediately, while futures market refers to a market in which participants buy and sell contracts to be settled at a later date, the instruments being considered derivatives.

Samsung launched a Bitcoin Futures ETF on the Hong Kong Exchange and Clearing Market on January 13th. The exchange is currently the only exchange in Asia that supports trading of Bitcoin futures ETFs.

At the time of publication, the ETF has already registered a 4.2% gain in price.

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Other Hong Kong futures ETFs have also attracted interest, with two ETFs managed by CSOP Asset Management raising $73.6 million in investments prior to their December 16th listing.

Yi Wang, CSOP executive at the time, said: […] There are more regulatory protections for investors compared to tokens traded on unregulated platforms. ”

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

In an interview on his Twitter space with Bloomberg Asia on Jan. 5, Animoka Brands chairman Yat Sui said Hong Kong wants more. attractive As a list location compared to the United States, note the following:

“Obviously, the U.S. was probably a good market at the time. […] Basically with their desire to become leaders in this field. ”

A lack of regulatory clarity is often cited as the reason so much crypto activity is leaving the United States, prompting lawmakers to push for crypto regulation as soon as possible.

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