Samsung Asset Management to Unveil Asia’s Foremost Blockchain ETF May 3, 2022 May 3, 2022 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsMay 3, 2022 by Kelly Cromley

Samsung Asset Management to Unveil Asia’s Foremost Blockchain ETF

Samsung Asset Management intends to unveil an ETF centered on a blockchain-focused firm traded on the Hong Kong Stock Exchange (HKEX) sometime before June 2022. The motivation for this resolve could be Samsung’s acquisition of a 20% stake in Amplify Holding, a US-based ETF provider, by shelling out $30 million. Notably, Amplify Holding rolled out the Amplify Transformational Data Sharing ETF (BLOC).

The ETF pamphlet speaks about a minimum of 80% investment, out of the total assets under management (AUM), in shares of blockchain enterprises such as Coinbase Global, Nvidia, CME, and Galaxy Digital Holdings. The prospectus also includes Canada-listed spot Bitcoin ETFs offered by Purpose and 3IQ Coinshares.

Additionally, on HKEX, Samsung Asset Management is anticipated to pursue the BLOC framework. Due to legal issues, the firm does not have a presence in the South Korean market.

Earlier in January, the International Stock Exchange of India and Torus Kling Blockchain inked a letter of intent to roll out an ETF based on Ethereum and Bitcoin futures.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.