May 3, 2022 13:24 UTC
May 3, 2022 at 13:24 UTC
Samsung Group Investment Arm to List Blockchain ETF on Hong Kong Exchange
Samsung Group’s investment arm is reportedly set to list a blockchain exchange-traded fund (ETF) on the Hong Kong Exchange throughout the first half this year. The ETF can have a structure that is identical to that of BLOK, one in all Amplify Holdings’s ETF products.
Samsung Asset Management’s Stake in Amplify Holdings
Samsung Asset Management Company (SAMC) is predicted to list a blockchain exchange-traded fund (ETF) on the Hong Kong Exchange throughout the primary half 2022, the parent company Samsung Group has affirmed. The listing of associate ETF, that tracks cryptocurrency and blockchain technology corporations, are a primary for Asia one report has aforesaid.
The ETF listing is predicted to occur within the half of 2022 comes a couple of weeks when SAMC reportedly noninheritable 20% of the stake in Amplify company, a U.S. ETF sponsor. As a part of a $30 million merger agreement with Amplify Holding, Samsung Group’s investment arm can have exclusive rights to produce Amplify merchandise in Asia.
The U.S. ETF sponsor, known for its ETF products such as BLOK ok, or Amplify Transformational knowledge Sharing ETF, is believed to speculate “at least 80% of its net assets in equity securities of blockchain corporations.” As per the report, the plus manager’s ETF can have a structure that’s identical to that of BLOK.
No Plans to List on Korean exchange
Some of the blockchain corporations wherever Amplify Holding has endowed embody Silvergate Capital, the graphics process unit (GPU) producer Nvidia, Galaxy Digital Holdings and Coinbase.
According to The Korea Economic Daily report, the plus manager is going to complete the ETF underneath its name. The report additionally disclosed that SAMC might not be listing the ETF of the South Korean exchange anytime before long thanks to the country’s cryptocurrency rules.
The report states, however, that the plus manager is considering listing a number of Amplify’s different ETFs within the Korean further as overseas markets.