Samsung Asset Management plans to launch blockchain exchange-traded fund

Samsung Investment, the Hong Kong-based subsidiary of Samsung Asset Management, has announced the launch of a blockchain-focused exchange-traded fund (ETF). The ETF will focus on companies operating in the blockchain space.
Samsung Asset Management plans to list the Samsung Blockchain Technology ETF on the Hong Kong Stock Exchange. The ETF will begin trading on June 23, according to an announcement published Thursday.
The goal of this ETF is to achieve long-term capital growth by investing in company stocks. The target companies of the ETF are those that are actively involved in the development and adoption of blockchain technology. Some of these target companies include companies that provide research and development services in the blockchain field, data providers, industry investment companies, etc.
The ETFs will be managed by Samsung Asset Management's portfolio management team, which is responsible for selecting companies with smaller market capitalizations and lower trading volumes.
The Samsung Blockchain Technology ETF is a sub-fund of the Samsung ETF Trust, an umbrella trust established under Hong Kong law. Samsung Asset Management classifies the investment product as Asia’s “first global blockchain-related ETF,” the announcement added.
Samsung Asset Management Pushes Crypto and Blockchain ETFs
Samsung Asset Management was one of the first companies in South Korea to manage more than $79 billion in assets in 2011. The company has been expanding its global presence and recently bought a stake in Amplify Holding Company 20%, becoming the company's second-largest shareholder.
Samsung Group has also shown its commitment to the blockchain and cryptocurrency industry in recent years. The group supports cryptocurrency transactions on its Samsung smartphones, allowing it to compete with leading cryptocurrency wallets.
The tech giant has also shown interest in non-fungible tokens (NFTs). The company plans to launch a smart TV series that integrates an NFT platform. The TV series was launched in January this year.
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