Samsung Group Investment Arm to List Blockchain ETF on Hong Kong Exchange

- Advertisement -

Samsung Group Investment Arm to List Blockchain ETF on Hong Kong Exchange – The parent business Samsung Group has announced that Samsung Asset Management Company (SAMC) will list a blockchain exchange-traded fund (ETF) on the Hong Kong Exchange in the first half of 2022. According to one report, the listing of an ETF that follows cryptocurrency and blockchain technology businesses will be a first for Asia.

The ETF listing is likely to take place in the first half of 2022, only weeks after SAMC was reported to have purchased a 20% share in Amplify Holding Company, a U.S. ETF sponsor. Samsung Group’s investment arm would have the exclusive rights to provide Amplify products in Asia as part of a $30 million acquisition deal with Amplify Holding.

Also Read: Global Investment Bank Goldman Sachs Offers Its First Bitcoin-Backed Loan

- Advertisement -

The BLOK, or Amplify Transformational Data Sharing ETF, is supposed to invest “at least 80 percent of its net assets in equity securities of blockchain firms,” according to the ETF sponsor. According to the article, the asset manager’s ETF will have the same structure as BLOK.

Silvergate Capital, the graphics processing unit manufacturer Nvidia, Galaxy Digital Holdings, and Coinbase are among the blockchain startups in which Amplify Holding has invested.

Samsung Group Investment Arm to List Blockchain ETF on Hong Kong Exchange – According to a report in The Korea Economic Daily, the asset manager intends to brand the ETF with its own name. Due to the country’s cryptocurrency restrictions, SAMC may not be able to list the ETF of the South Korean stock market anytime soon, according to the report. 

However, according to the source, the asset manager is considering listing some of Amplify’s other ETFs in both Korean and international markets.

Don't miss

North Korean Lazarus Group Linked to New Cryptocurrency Hacking Scheme

North Korean Lazarus Group Linked to New Cryptocurrency Hacking...

London’s Prince Charles Cinema Set To Launch Bid To Revive Edinburgh Filmhouse

London’s Prince Charles Cinema Set To Launch Bid To...

Amber Heard Appeals For New Trial In Johnny Depp Defamation Case

Amber Heard Appeals For New Trial In Johnny Depp...

Paul Pelosi Attends Kennedy Center Honors In First Appearance Since Hammer Attack

Paul Pelosi Attends Kennedy Center Honors In First Appearance...

Meta Faces Lawsuit For Harvesting Financial Data From Tax Prep Websites

Meta Faces Lawsuit For Harvesting Financial Data From Tax...

LEAVE A REPLY

Please enter your comment!
Please enter your name here