Samsung Asset to List Asia’s First Blockchain ETF in Hong Kong

Samsung Asset Management, a South Korean-based investment arm of Samsung Group announced that it plans to list Asia’s first blockchain ETF on the Hong Stock Exchange (HKEX) in the first half of the year. Asia’s First Blockchain ETF According to local media reports, Samsung Asset Management, Korea’s largest asset manager, is planning to list a blockchain-focused ETF in Hong Kong before July. This will be Asia’s first ETF that will involve actual cryptocurrencies. However, as it indirectly involves crypto, the domestic listing of the Samsung Blockchain ETF is expected to take some time because of the country’s regulations on crypto investment. Samsung’s ETF is expected to closely resemble Amplify’s Transformational Data Sharing ETF (BLOK ETF) which invests a minimum 80% of its net assets in equity securities of blockchain companies. In March, a 20% stake of the U.S. ETF management firm, AmpliFi was acquired by Samsung Asset Management, which led to gaining exclusive sales rights for the AmpliFi products in Asia for a $30 million investment. Samsung Eyes Bitcoin, Blockchain Samsung is becoming a major driver of Bitcoin, crypto, and blockchain adoption. In early 2020, the South Korean electronics giant started developing 5G enabled smartphones that support Bitcoin, crypto, and blockchain wallets. Recently, the firm also launched its first virtual store in Decentraland metaverse and has taken to collaborating with crypto/blockchain...