On June 23, Samsung Asset Management запустит ETF focused on blockchain companies on the Hong Kong Stock Exchange.
According to the prospectus, the product’s objective is to achieve long-term capital growth by investing in companies actively involved in the development and deployment of distributed ledger technology.
Samsung Asset Management positions the blockchain ETF as ‘the first in Hong Kong and Asia’. Carmen Chung, head of the firm’s passive investments division, noted growing demand for blockchain-based applications and forecast industry growth in the future.
“The need to process and store data is increasing as the digital world evolves. Going forward, blockchain will be widely used by various enterprises to improve data efficiency and security,” she noted.
Earlier Samsung Asset Management acquired 20% stake in the American ETF provider Amplify Holding for $30 million. The latter launched Amplify Transformational Data Sharing ETF.
In May, reports said that the listing of the instrument in South Korea is not expected due to regulatory restrictions.
As reported in April, the ETF provider iShares launched an ETF based on companies in the blockchain and cryptocurrency sectors.
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