Samsung Asset Administration obtained approval to checklist its Bitcoin (BTC) Futures Alternate Traded Fund (ETF) on the Hong Kong Inventory Alternate by Jan. 13, in accordance with native media experiences.
On Oct. 31, the Hong Kong Securities and Futures Fee (SFC) introduced plans to permit ETF suppliers to checklist futures contracts for retail traders to realize publicity to crypto property.
Consequently, Samsung Asset Administration filed an utility to supply its Bitcoin Futures ETF for buying and selling.
The Samsung Bitcoin Energetic ETF (beneath the ticker FA SAMSUNG BTC) shall be open for buying and selling on Jan. 13 by way of the Hong Kong Inventory Alternate market.
The Samsung ETF will spend money on Bitcoin futures merchandise listed on the Chicago Mercantile Alternate (CME). The futures contract will embody CME Bitcoin futures and the CME micro-Bitcoin futures.
Consequently, retail traders will be capable of allocate small quantities to the Bitcoin ETFs, on condition that the contract models and margins are small.
Head of Samsung Asset Administration Park Seong-jin stated:
“The Samsung Bitcoin ETF shall be a brand new possibility for traders who’re a brand new possibility for traders who’re serious about Bitcoin as a aggressive product.”
In the meantime, Samsung Asset Administration had earlier listed its World blockchain trade ETF and Asia Pacific Metaverse ETF for buying and selling on the Hong Kong Inventory Alternate market.
Bitcoin Futures ETF in Asia
A couple of month in the past, CSOP Asset Management turned the primary agency to checklist its Bitcoin Futures ETF for buying and selling on the Hong Kong inventory alternate market.
In line with a performance report launched by CSOP on Jan 11, its Bitcoin Futures ETF recorded about $12 million in total buying and selling quantity. Its each day buying and selling quantity stood at about $630,000.
Hong Kong-based Huasheng Securities reportedly subscribed for the primary set of the CSOP Bitcoin Futures ETFs.