The Samsung Group is not stopping and delving into the crypto industry even more.
On June 9, Hong Kong’s Samsung Asset Management (SAMHK) stated that it would fire up a first-ever blockchain-related exchange-traded fund (ETF) dubbed Samsung Blockchain Technologies ETF in Asia that will be trading in HKD.
According to the official statement, SAMHK plans to roll out the ETF on June 23 on the Stock Exchange of Hong Kong (SEHK). In addition, as stated in the fund prospectus, the Samsung Blockchain Technologies ETF will invest in the stocks of blockchain-oriented constantly growing companies in order to achieve capital gain expansion.
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Moreover, the Head of the ETF Team at Samsung Asset Management (Hong Kong) Limited Carmen Cheung stated that "the demand of data processing and storage will expedite with the evolution of our digital world.” On top of that, she mentioned that blockchain technologies will eventually be adopted by various organizations that seek to advance security and data efficiency.
The firm also stated that the exchange-traded fund (ETF) will be overseen by SAMHK. On top of that, the team will weed out organizations that possess a low trading volume or small market cap.
The tech giant Samsung Asset Management founded in 1988 is the biggest asset manager in Korea with $233.4 billion in AUM that provides innovative investment options to retail and institutional investors.
For the past few years, the Samsung Group has been widely involved in exploring the crypto industry. For instance, back in January, the South-Korean giant implied that it would be manufacturing Smart TVs with a built-in application to buy, sell, and trade non-fungible tokens (NFTs).
Later on, on March 30, Gemini’s subsidiary dubbed Nifty Gateway stated that it would work with Samsung in order to develop a smart TV NFT platform for Samsung’s QLED and Neo QLED 8k Smart TVs. This provided the viewers the ability to scroll through NFT collections, make purchases, and trade with other collectors.
