A bitcoin futures exchange-traded fund(ETF) has been debuted by Samsung’s asset management unit to aid Hong Kong to become a hub for a cryptocurrency. Since the advent of ETFs, no other Asian country has expressed substantial interest in them, making Hong Kong the only Asian country backing one as of this most recent launch. The most recent change attracted a lot of brands to the city.
NEW: 🇭🇰 Samsung's #Bitcoin Futures ETF went LIVE today in Hong Kong.
— Bitcoin Archive (@BTC_Archive) January 13, 2023
According to company representatives, the release of ETFs will help investors increase their understanding of risk management. Since its debut, the Bitcoin futures ETF has received a good response from investors worldwide. Recently, the product also reached a total trading volume of $12 million, with a daily volume of $630,000.
All about Bitcoin ETF and its involvement with Samsung
Bitcoin futures ETF and the South Korean giant Samsung have a long-standing and strong bond. In 2022, the company had $1.4 billion in assets under management. In addition, the business released its blockchain wallet to be used with Samsung Galaxy S22 smartphones. Following the market collapse, the business launched the product in the cryptocurrency market to increase its presence and leverage the opportunity.
What is Bitcoin ETF?
Individuals have access to cryptocurrency through regulated stock markets thanks to a Bitcoin ETF. Further ETFs that track the price of bitcoin is called bitcoin ETFs. You can invest in bitcoin utilizing Bitcoin ETFs without actually owning any. A Bitcoin futures ETF holds Bitcoin futures contracts. It ensures to buy or sell bitcoin at a set price in the future.