Asian investors will soon have access to Bitcoin (BTC) futures exchange-traded funds (ETFs) through Samsung Asset Management’s Hong Kong-based business. Samsung Asset Management is the largest investment manager in Korea.
The new investment product will reportedly be listed on the Hong Kong Exchanges and Clearing Limited (HKEX) on January 13th, according to Samsung Asset Management Limited (SAMHK).
The only exchange in Asia that offers Bitcoin futures is the HKEX. With the introduction of CSOP Asset Management’s Bitcoin futures ETF and Ethereum (ETH) futures ETF in December, the stock market in the area saw the debut of the first crypto asset ETFs.
By predominantly investing in front-month Bitcoin futures contracts traded on the Chicago Mercantile Exchange, SAMHK’s Samsung Bitcoin Futures Active ETF will expose investors to the benchmark crypto asset without directly investing in Bitcoin (CME).
“To fulfil the Sub-investment Fund’s objective, the Manager implements an active investing strategy wherein it will engage in and have exposure to, Bitcoin Futures on the CME contracts worth up to 100% of the Sub-net Fund’s asset value (‘NAV’).”
Investors will be charged a management fee of 0.89% annually, according to SAMHK.
As BTC rises, the asset manager is introducing its Bitcoin futures ETF. The leading cryptocurrency has increased in value this month from a low of about $16,500 to a current price of $18,774.