Samsung Asset Management Is All Set To Launch A Blockchain-Themed ETF
Samsung Asset Management (SAMHK), a Hong Kong-based local sub-branch of the investment arm of Samsung, is stepping ahead with a blockchain-based exchange-traded fund (ETF). The platform anticipates introducing the Samsung Blockchain Technologies ETF thereof on 23rd June through Hong Kong Stock Exchange, as declared by SAMHK on Thursday.
The ETF pursues to accomplish long-term capital development by making stock investments in the firms that are enthusiastically engaged with the adoption as well as the advancement in the sector of blockchain technologies, as noted in the fund prospectus. With the respective fund, the focus of investment will be the companies related to development and research dealing with the blockchain industry, industry investment venues, data providers, and so on.
The portfolio management group at SAMHK will be responsible for the management of the ETF’s composition, excluding the companies with minimum trading volume or less market capitalization. The Samsung Blockchain Technologies ETF counts to be a sub-fund of a broader unit trust developed under the administration of Samsung ETFs Trust, known as Hong Kong law, as stated by the company.
As per the declaration, the unique investment product is placed by SAMHK as the earliest ever worldwide ETF dealing with blockchain within Hong Kong, and Asia. SAMHK’s ETF as well as passive investment head, Carman Cheung, pointed toward the growing demand for applications based on blockchain technology, anticipating that the industry would have substantial advancement in this sector. In her words, the data storage and processing-related demand will have a considerable escalation with the transformation of the digital world of this time.
According to her, significant utilization of blockchain technologies will be witnessed in diverse businesses to further develop data efficiency, minimize the accessibility time, along with emphasizing security. She revealed that they witness this to be among the future developments regarding digital evolution. SAMHK is considered among the worldwide sub-branches of Samsung Asset Management which is completely administered under the span of the Samsung Group.
In line with the official data of Samsung Asset Management, it was among the initial firms within South Korea that crossed a line of 100T Korean won (approximately $79B) in terms of assets under management as of 2011. The launch of ETF is witnessed just following the acquirement of a twenty percent equity stake by Samsung Asset management in Amplify Holding Company (an ETF sponsor based in the United States) in March this year, reportedly turning into the second-biggest shareholder.
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