Samsung Asset Management plans to list a blockchain exchange-traded fund (ETF) on the Hong Kong Exchange in the first half of this year, according to the Korea Economic Daily.
It will be the first ETF that tracks cryptocurrencies and blockchain tech companies to list in Asia.
The listing follows the asset manager’s acquisition of a 20% stake in US ETF sponsor Amplify Holding Company LLC in late March. Samsung Asset Management has secured exclusivity to provide Amplify products in Asia through the $30 million deal.
The Illinois-based ETF sponsor is renowned for its ETF products such as BLOK, or Amplify Transformational Data Sharing ETF, which seeks to provide total return by investing at least 80% of its net assets in equity securities of companies actively involved in the development and utilization of blockchain technologies.
The list of the companies includes crypto payment platform Silvergate Capital, crypto mining graphics processing unit (GPU) producer Nvidia, digital asset manager Galaxy Digital Holdings, crypto exchange platform giant Coinbase Global and derivatives exchange Chicago Mercantile Exchange (CME) Group.
The ETF set to list on the HKEX will have the identical structure as BLOK.