Hong Kong-based Samsung Asset Management (SAMHK), a nearby subsidiary of Samsung’s investment arm, is continuing to move forward having a blockchain-themed exchange-traded fund (ETF).
The firm expects to produce its Samsung Blockchain Technologies ETF around the Hong Kong Stock Market on June 23, SAMHK announced on Thursday.
The ETF seeks to attain lengthy-term capital growth by purchasing stocks of companies positively active in the development and adoption of blockchain technologies, the fund prospectus reads. The fund invested in blockchain-related development and research firms, data providers, industry investment firms yet others.
The ETF’s composition is going to be managed by SAMHK’s portfolio management team, accountable for filtering out firms with “small market capital or low buying and selling volume.” The Samsung Blockchain Technologies ETF is really a sub-fund of Samsung ETFs Trust, an umbrella unit trust established under Hong Kong law, the firm stated.
Based on the announcement, SAMHK positions the brand new investment product because the “first ever global blockchain-related ETF in Hong Kong” in addition to Asia.
Carmen Cheung, mind of ETF and passive investment at SAMHK, notd the growing interest in blockchain technology-based applications, forecasting the industry’s growth later on, stating:
“The need for information systems and storage will expedite using the evolution in our digital world. Blockchain technologies will further be broadly employed for different companies to enhance data efficiency, security and shorten the ease of access time. We have seen this among the future trends on digital transformation.”
SAMHK is among several global subsidiaries of Samsung Asset Management, a wholly-owned subsidiary underneath the umbrella from the Samsung Group. Based on official company data, Samsung Asset Management was among the first companies in Columbia to exceed a milestone of 100 trillion Korean won ($79 billion) in assets under management this year.
The ETF launch comes right after Samsung Asset Management acquired a 20% equity stake within the U . s . States’ ETF sponsor Amplify Holding Company in March 2022, apparently becoming the 2nd-largest shareholder.
Related: ‘Bitcoin-thematic’ ETF lists on Italian stock market Borsa Italiana
The Samsung Group continues to be positively going through the blockchain and cryptocurrency industry recently, supporting crypto transactions on its flagman Samsung smartphones and purchasing major crypto wallets. The South Korean tech giant has additionally been tinkering with nonfungible tokens, launching a good TV selection by having an integrated NFT platform in The month of january 2022.
