Samsung Asset to list blockchain ETF on the Hong Kong Exchange
According to the company representatives, the fund will be the first project to track cryptocurrencies and blockchain technologies registered in Asia
02.05.2022 - 15:45
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What’s new? Samsung Asset Management plans to list a blockchain exchange-traded fund (ETF) on the Hong Kong Exchange (HKEX) in the first half of this year. According to the company, it will be the first ETF registered in Asia that tracks cryptocurrencies and blockchain technologies. The Korea Economic Daily reported the news.
Information on the Korea Economic Daily website
What influenced the decision? The intention to conduct the listing followed the company’s purchase of a 20% share of US ETF provider Amplify Holding Company LLC at the end of March. Samsung Asset Management gained the exclusive right to provide Amplify products in Asia after closing a $30 million deal.
What is known about Samsung Asset Management? It is a subsidiary of Samsung Life Insurance, which was founded in 1998. It is the largest asset manager in the Republic of Korea. The company provides brokerage services, allowing investment in shares of national and international companies. It has $233,4 billion in assets under management.
What events happened before? In late April, Samsung Electronics and investment firms Coentry Investment and NH Investment led a funding round in which the South Korean developer of the TwinWorld metaverse, startup DoubleMe, raised $25 million.
In March Samsung Electronics integrated support for the NFT marketplace Nifty Gateway into its new range of Smart TVs. According to the company’s official press release, the new models of the QLED and NEO QLED ranges already support non-fungible token features.
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