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Samsung Asset Management plans to list Blockchain ETF on HKEX

29 Apr 2022 : 10:46
2 min read
  • Samsung Asset Management reportedly aims to list a Blockchain ETF to Hong Kong stock exchange.
  • It aims to bring the ETF in the first half of 2022.
  • The move seeks to give ample room to new technologies like Blockchain.

As per the local media reports, the South Korean asset manager Samsung Asset Management is listing a blockchain ETF on the Hong Kong stock exchange.  

Samsung Asset Management to bring Blockchain ETF

Samsung Asset Management reportedly aims to bring Blockchain ETF to Hong Kong in the first half of 2022. However, as it indirectly involves crypto, the domestic listing of the Samsung Blockchain ETF is expected to take some time.

The move seeks to change the image of the company to a global organization which gives ample room to new technologies like Blockchain. According to the reports, the ETF would have an identical structure to the U.S.- listed ETF BLOK. It invests over 80% of its net assets in blockchain companies’ equity securities.

In March, a 20% stake of the U.S. ETF management firm, AmpliFi was acquired by Samsung Asset Management, which has gained exclusive sales rights for the AmpliFi ETF in Asia for a $30 million investment.

Despite the massive regulatory pressure, many major firms are recognizing the potential of crypto ETFs and constantly listing them on different exchanges. The investment arm of the Samsung Group has already listed five ETFs, including semiconductors, FANG+, China Internet, REITs, and crude oil ETFs.

Marking major presence 

The South Korean multinational electronics company has continuously expanded its roots in the emerging industry. Recently, it launched its first virtual store in Decentraland metaverse. The company is also collaborating with brands and startups to increase its presence in the crypto world.

In March, Samsung’s rival company LG Electronics Inc. also announced that it is adding digital assets and blockchain technology among new areas in its corporate charter.

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Anisha Pandey

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A writer, an artist, an engineer, and a girl with a colorful mind, Anisha believes in achieving results smartly and diligently. She is a previous journalist at Cryptonary.

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