Crypto: digital giant Samsung positions itself in the race for Blockchain ETFs

And one more ETF – Samsung seems to have embarked on a race for exchange-traded funds (ETFs) related to blockchain and cryptocurrencies. The South Korean giant now wants to launch a first such ETF in Asia.

Samsung behind the first blockchain and crypto ETF in Hong Kong

According to an April 28, 2022 article from the media Korea Economic DailySamsung Asset Management plans to listing a blockchain ETF on the Hong Kong Stock Exchange during this first half of 2022. This exchange-traded fund would then be the first in Asia to track the performance of blockchain and crypto companies.

This news comes just under a month after Samsung announced the acquisition of a 20% stake in Amplify Holding Company LLC. The latter is the Promoter of ETF BLOK that invests at least 80% of its net assets in equity securities of blockchain companies.

Samsung continues like this to increase and diversify their investments in cryptocurrencies. In addition to these assaults on the financial markets, the company wants to add NFT functionality to its smart TVs. She revealed in March 2022 that she was working on this project, with the marketplace Clever gateway.

Blockchain and crypto ETFs are setting out to conquer the world. Canada is among the pioneers. The US opened the door a crack by accepting Bitcoin futures ETFs, but consistently refusing Bitcoin spot ETFs. To the point that some actors start a legal fight against the SEC. The Hong Kong Stock Exchange may list this blockchain ETF from Samsung. Australia was also set to host three crypto ETFs, but their launch was reported at the last moment.

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