Samsung Group’s investment arm is reportedly set to list a blockchain exchange-traded fund (ETF) on the Hong Kong Exchange during the first half of this year. The ETF will have a structure which is similar to that of BLOK, one of Amplify Holdings’s ETF products.
Samsung Asset Management’s Stake in Amplify Holdings
According to the Samsung Group, Samsung Asset Management Company will be listing a cryptocurrency exchange-traded fund (ETF), on the Hong Kong Exchange within the first six months of 2022. One report claims that the listing of an ETF which tracks blockchain and cryptocurrency technology companies will mark a landmark in Asia.
ETF listings are expected to take place during the first half in 2022. It comes just weeks after SAMC purchased 20% of Amplify Holding Company’s stake, which is a U.S. ETF sponsors. As part of a $30 million acquisition agreement with Amplify Holding, Samsung Group’s investment arm will have exclusive rights to provide Amplify products in Asia.
The U.S. ETF sponsor, which is famed for its ETF products such as BLOK, or Amplify Transformational Data Sharing ETF, is thought to invest “at least 80% of its net assets in equity securities of blockchain companies.” As per the report, the asset manager’s ETF will have a structure that is identical to that of BLOK.
There are no plans to list on the Korean stock market
Amplify Holding invests in several blockchain companies, including Silvergate Capital and Nvidia’s graphics processing unit (GPU), Galaxy Digital Holdingss and Coinbase.
The Korea Economic Daily reported that an asset manager intends to trademark the ETF’s name. The report also revealed that SAMC may not be listing the ETF of the South Korean stock market anytime soon due to the country’s cryptocurrency regulations.
The report states, however, that the asset manager is considering listing some of Amplify’s other ETFs in the Korean as well as overseas markets.
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