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Samsung Gears Up To List Asia's First ETF That Tracks Crypto, Blockchain Companies

Samsung Group’s investment arm is slated to list a blockchain exchange-traded fund on the Hong Kong Exchange (HKEX) in the first half of this year, according to The Korea Economic Daily.

Benzinga · 05/02/2022 02:54

Samsung Group’s investment arm is slated to list a blockchain exchange-traded fund on the Hong Kong Exchange (HKEX) in the first half of this year, according to The Korea Economic Daily.

The Samsung Asset Management Co said the ETF would be the first of its kind that tracks cryptocurrencies and blockchain tech companies to list in Asia and the sixth ETF for the company to list on HKEX.

Samsung Group is planning to brand the new ETF under its company name.

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The ETF will have the identical structure to BLOK, a U.S.-listed ETF that invests at least 80% of its net assets in equity securities of blockchain companies. BLOK portfolio includes companies such as Nvidia Corp. (NASDAQ:NVDA), Silvergate Capital Corp (NYSE:SI), and MicroStrategy Incorporated (NASDAQ:MSTR).

This came after the asset manager’s acquisition of a 20% stake in US ETF sponsor Amplify Holding Company LLC in late March. Samsung AMC secured an exclusive right to provide Amplify products in Asia through the $30 million deal.

The company also recently invested $25 million in DoubleMe, a metaverse startup based in South Korea.