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On The Hong Kong Exchange, Samsung Asset Will Offer A Blockchain ETF

The Samsung Group’s investment arm announced on Thursday that it plans to list a blockchain exchange-traded fund on the Hong Kong Exchange (HKEX) in the first half of this year. It is the first ETF to list in Asia that tracks cryptocurrency and blockchain technology firms.

On The Hong Kong Exchange, Samsung Asset Will Offer A Blockchain ETF

The asset management bought a 20% stake in US ETF sponsor Amplify Holding Company LLC in late March, prompting the listing. Through a $30 million transaction, Samsung Asset Management has gained exclusive access to Amplify goods across Asia.

The ETF sponsor, situated in Illinois, is known for ETFs like BLOK, or Amplify Transformational Data Sharing ETF, which invests at least 80% of its net assets in equity securities of blockchain businesses.

Silvergate Capital, a crypto payment platform, Nvidia, a crypto mining graphics processing unit (GPU) manufacturer, Galaxy Digital Holdings, Coinbase Global, a crypto exchange platform, and the Chicago Mercantile Exchange (CME) Group are among the companies on the list. The structure of the ETF slated to list on the HKEX will be identical to that of BLOK.

Samsung Asset Management plans to launch the new ETF alongside its five existing HKEX ETFs

On The Hong Kong Exchange, Samsung Asset Will Offer A Blockchain ETF

HKEX ETFs track global semiconductors, FANG+ (Facebook, Apple, Netflix, Google (Alphabet) and other companies), Asia-Pacific REITs, Chinese internet enterprises, and crude oil.

BLOK includes crypto-tracking ETFs including Purpose Bitcoin ETF and 3IQ Coinshares Bitcoin ETF, as well as crypto-tech firms and trading platforms. The new ETF will be Asia’s first public blockchain ETF that contains cryptocurrencies, and it will debut on the Hong Kong stock exchange. However, due to the country’s cryptocurrency investment restrictions, it will not be listed on the Korean stock exchange in the foreseeable future.

Amplify’s other flagship ETFs may be listed in the Korean and international markets by the Korean investment firm. According to a Samsung executive, the asset manager is considering whether to issue DIVO, or Amplify CWP Enhanced Dividend Income ETF, in Korea or Hong Kong.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Annie

CoinCu News

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

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