Samsung Asset Management which is a local subsidiary of Samsung’s investment arm is going ahead with a blockchain themed exchange traded fund. The firm expects to launch its Blockchain Technologies ETF on the Hong Kong Stock Exchange in late June.
The ETF seeks to achieve long term capital growth by investing in stocks of companies that are actively involved in the development and adoption of blockchain technologies. The fund will invest in blockchain related research and development firms, data providers and industry investment firms.
The ETF’s composition will be managed by Samsung Assets portfolio management team which will be responsible for filtering out firms with small market capitalization or low trading volume. The Samsung Blockchain Technologies ETF is a sub-fund of Samsung ETFs Trust, an umbrella unit trust established under Hong Kong law.
According to the announcement, Samsung Asset positions the new investment product as the “first ever global blockchain-related ETF in Hong Kong” as well as Asia.
Samsung Assets is one of several global subsidiaries of Samsung Asset Management, a subsidiary under the umbrella of the Samsung Group. According to official company data, Samsung Asset Management was one of the first companies in South Korea to surpass a milestone of 100 trillion Korean won in assets under management.
