Samsung Asset Management, following closely the announcement of its ETF for Bitcoin futures in Hong Kong (ETF), has announced that it is looking into the possibility of launching a spot Bitcoin ETF to be listed on the exchange. This will only be possible if the laws permit it. This announcement follows the launch of Samsung Asset Management’s Bitcoin futures ETF (Hong Kong) earlier in the week.
A Bloomberg interview that was published January 13th, reported that Sam Park (chief executive of Samsung Asset Management in Hong Kong) said the following: “It really depends on how policy are going to be created.”
He stated that Hong Kong is a “clearly” the goal of the administration in Hong Kong.
ETF analyst at Bloomberg Intelligence Rebecca Sin stated that Hong Kong is well-positioned to be Asia’s crypto gateway. She expects spot Bitcoin and Ether products to be allowed there by the end the year. Sin stated that Hong Kong is well placed to become Asia’s crypto gateway. Sin’s prediction was based on Sin’s assertion that Hong Kong is “ideally placed to become Asia’s cryptocurrency gateway.”
Samsung introduced an exchange-traded fund (ETF), which will invest in Bitcoin futures on both the Hong Kong Exchanges and Clearing Market. Clearing Market and Hong Kong Exchanges offer trading in Bitcoin futures ETFs. Hong Kong currently holds this distinction.
Hong Kong futures exchange traded fund (ETFs) have attracted additional interest. For example, $73.6 million was invested in ETFs managed and managed by CSOP Asset Management before their December 16th listing. This is an example of the additional interest shown in Hong Kong futures exchange traded funds (ETFs).
Many people attribute the fact that bitcoin activity is so high in countries other than the United States to confusion in the laws. Legislators are calling for the adoption of crypto legislation as quickly as possible.