Skip to content

Samsung Considers Spot-Bitcoin ETF in Hong Kong

Samsung Asset Management, the investment arm of Samsung, has announced that it is considering the launch of a spot Bitcoin ETF on the Hong Kong Stock Exchange.

Samsung logo
Samsung logo

The move comes after Samsung launched its Bitcoin futures ETF on the Hong Kong Exchanges and Clearing Market on January 13, which is currently the only exchange in Asia that supports the trading of Bitcoin futures ETFs.

Hong Kong Stock Exchange as Asia's Crypto Gateway

In an interview with Bloomberg, Hong Kong Chief Executive for Samsung Asset Management, Sam Park, said that the launch of a spot Bitcoin ETF will depend on the development of policies in Hong Kong. He also stated that Hong Kong administrators are "clearly" interested in developing the city into a crypto hub. ETF analyst at Bloomberg Intelligence, Rebecca Sin, also noted that "Hong Kong is well positioned to become Asia's crypto gateway" and expects spot Bitcoin and Ether products to be allowed there by the end of the year.

Hong Kong ETFs See Increased Interest

Samsung's ETF has already recorded a 4.2% increase in its price, and other Hong Kong futures ETFs have also seen increased interest. Two ETFs managed by CSOP Asset Management raised $73.6 million in investments ahead of their December 16 listing. CSOP executive Yi Wang noted that "The ETFs do not invest in physical Bitcoin and...there are more regulatory safeguards for investors compared to tokens traded on unregulated platforms."

Hong Kong Attractive for Listing Location

In a Twitter Spaces interview with Bloomberg Asia on January 5, Animoca Brands Chairman Yat Siu indicated that Hong Kong was looking more attractive as a listing location compared to the United States. He cited Hong Kong's virtual asset policies and desire to be a leader in the space as reasons for this. A lack of regulatory clarity in the US has often been cited as the reason why so much crypto activity is leaving the country, prompting lawmakers to push for crypto regulations as soon as possible.