Samsung Asset Management Co., Ltd., a Seoul-based investment arm of Samsung Group, stated on Thursday to Korea Economic Daily, that the company looks to list a Blockchain exchange-traded fund (ETF) on the Hong Kong Exchange (HKEX) by the end of first half of this year. The recent investment product is the first ETF to follow cryptocurrencies and blockchain tech spaces listed in Asia, according to Samsung Group’s investment unit.
The plans came after the acquisition of a 20% investment in US ETF sponsor Amplify Holding Company LLC, an Illinois-based ETF provider, by Samsung Asset Management in late March. As a result of the $30 million acquisition, Samsung now has exclusive rights to sell Amplify products in Asia.
Samsung Asset Management clears its intention that it intends to mark the new ETF under its organisation’s name. The resource chief further referenced that it will list the new ETF close by its five existing ETFs on the Hong Kong Exchange, which track the performance of organisations like worldwide semiconductors; Facebook, Netflix, Apple, FANG+, Google (Alphabet) and others; Asia-Pacific Publicly traded equity real estate investment trusts (REITs), Amazon, Chinese internet company; and crude oil
According to Samsung Asset Management, the new ETF will be Asia’s first public blockchain ETF that includes cryptos when it debuts on the Hong Kong stock exchange. The asset management, however, stated that the new ETF will not be listed on the South Korean Stock Exchange in the near future due to the country’s crypto investing rules.
According to Samsung Asset Management, the new ETF will be Asia’s first public blockchain ETF that contains cryptos when it debuts on the Hong Kong stock exchange. The asset management, however, stated that the new ETF will not be listed on the South Korean Stock Exchange in the near future due to the country’s crypto investing rules.
Samsung also claimed that it is considering listing some of Amplify’s other flagship ETFs in the Korean and international markets. Amplify CWP Enhanced Dividend Income ETF is being considered for a listing in Korea or Hong Kong, according to the Korean investment firm.
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