Samsung Takes Lead In Hong Kong’s Crypto Market With Upcoming Bitcoin Futures ETF – Bitcoin (BTC/USD), E – Benzinga

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Samsung Asset Administration Hong Kong, a division of the South Korean expertise large, is planning to introduce a brand new Bitcoin BTC/USD futures ETF on Jan 13.The ETF, named “Samsung Bitcoin Futures Lively ETF,” goals to supply traders with related returns as investing within the spot Bitcoin.This ETF will enable traders in Hong Kong and different Asian markets to achieve publicity to the world’s hottest digital foreign money, Bitcoin.See Additionally: Bitcoin Tops $18K Following Inflation DataThe ETF will primarily put money into Bitcoin futures from the Chicago Mercantile Alternate (CME), which is understood for its futures contracts which can be based mostly on the underlying spot value of Bitcoin.This helps to scale back the volatility and threat related to investing immediately in digital foreign money.Moreover, the ETF can also put money into CME micro-Bitcoin futures in some circumstances, as a option to diversify the funding portfolio.The pinnacle of Samsung Asset Administration’s Hong Kong workplace, Park Seong-jin, stated that the ETF will present traders with an analogous funding efficiency because the spot Bitcoin.“Hong Kong is the one market in Asia the place Bitcoin futures ETFs are listed and traded within the institutional market. It is going to be a brand new possibility for traders who’re occupied with Bitcoin as a aggressive product that displays their expertise in threat administration,” he added.Samsung’s announcement comes a month after Hong Kong obtained its first Bitcoin and Ethereum ETH/USD futures exchange-traded funds (ETFs).The ETFs by CSOP Asset Administration reportedly raised about $58.9 million and $19.7 million, respectively, earlier than public itemizing, which suggests a robust urge for food for crypto within the Hong Kong market.Samsung Asset Administration’s transfer to launch a Bitcoin futures ETF is a major improvement for the crypto market in Asia.It should present traders with a handy option to achieve publicity to the main digital foreign money, whereas additionally serving to to scale back the volatility and threat related to investing immediately in Bitcoin.Subsequent: Starbucks, NVIDIA And These 3 Stocks Insiders Are Selling


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