The Samsung Group’s investment branch, Samsung Asset Management is reportedly planning to list Asia’s first blockchain Exchange Traded Fund (ETF) in Hong Kong to capitalize on growing demand.
Reports reveal that Samsung Asset Management might apparently unveil the fund sometime within the first half of 2022 on the Hong Kong Stock Exchange.
This could be the first Asia-based blockchain ETF of its kind to be listed in the region. The ETF is an agent for tracking major blockchain tech companies.
The firm had recently acquired US ETF provider Amplify Holding Company and got a 20% stake via a special purpose vehicle.
It is worth mentioning that Samsung’s ETF is expected to closely resemble Amplify’s BLOK ETF. The BLOK ETF invests 80% of its net assets into equity securities of blockchain-based companies. The BLOK ETF’s major holdings include Coinbase, Nvidia, Microstrategy, SBI Holdings and Galaxy Digital.
Samsung has recently been quite active in crypto ventures. In March, Samsung along with Nifty Gateway revealed plans to develop the first-ever smart TV NFT platform for buying, exploring, and trading digital art and collectibles.
