• Contact
  • Privacy Policy
  • Advertise With Us
  • Login
  • Register
Your Trading Edge Magazine
Advertisement
  • Home
  • Feature
    • Market Commentary
    • Expert Advice
    • Columns
  • Trading
    • Shares and Trading
    • Technical Analysis
    • Trading Mindset
  • Crypto News
  • Finance
  • Subscribe
No Result
View All Result
  • Home
  • Feature
    • Market Commentary
    • Expert Advice
    • Columns
  • Trading
    • Shares and Trading
    • Technical Analysis
    • Trading Mindset
  • Crypto News
  • Finance
  • Subscribe
No Result
View All Result
Your Trading Edge Magazine
No Result
View All Result

Samsung will launch Bitcoin Futures ETF on Hong Kong stock…

January 13, 2023
in Crypto News
Reading Time: 2 mins read
A A
0
Samsung will launch Bitcoin Futures ETF on Hong Kong stock…
0
SHARES
4
VIEWS
ShareShareShareShareShare

Samsung launches the 2nd Bitcoin Futures ETF in the whole of Asia. Begins trading on January 13.

The Samsung Bitcoin Futures ETF

Samsung Asset Management Hong Kong (SAMHK), a subsidiary of Samsung Asset Management, designed the ETF to track the spot price of Bitcoin by investing in Bitcoin futures products listed on the Chicago Mercantile Exchange (CME). The ETF will mainly invest in the CME Bitcoin Futures, with a small portion of investments in the CME Micro-Bitcoin Futures.

Interest in crypto increases

The launch of the ETF comes at a time when there is increasing interest from both government and institutional investors in Hong Kong for Bitcoin and other cryptocurrencies.

Recently, Hong Kong’s finance secretary Paul Chan announced at a Web3 forum that the region was still committed to being a hub for cryptocurrencies, and then this was followed by the Financial Services and the Treasury Bureau (FSTB), a Hong Kong regulator, stating that a new framework could allow retail investors to trade on licenced exchanges.

A way of gaining exposure to Bitcoin

This ETF listing provides investors with a new way to gain exposure to Bitcoin, which may help attract more mainstream investors to the cryptocurrency space. Samsung’s reputation and brand power also make the ETF an attractive option for investors looking for a way to invest in Bitcoin without having to manage their own private keys.

Is a futures ETF good for Bitcoin?

Some might say that futures ETFs are actually bad for the crypto space given that the value of the ETF is based on the futures contracts, rather than the underlying asset, leaving it open for manipulation by traders with large positions. In fact, it might also be said that a futures ETF is really best for shorting the asset, and is not a suitable tool for retail investors.

It also might be said that this makes it rather odd that Gary Gensler, Chairman of the US SEC, only approves futures ETFs for Bitcoin. Many Bitcoin ETFs have been turned down over the years, but futures ETFs are given the nod. This does rather appear to fly in the face of one of Gensler’s main remits, which is to protect retail investors.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Credit: Source link

ShareTweetSendPinShare
Previous Post

Nexo co-founder calls financial crimes allegations ‘absurd’

Next Post

Biden moved quickly on Thursday to tout the good inflation news

Related Posts

This Canadian Man Lost his Life Savings in a Crypto Scam on YouTube
Crypto News

This Canadian Man Lost his Life Savings in a Crypto Scam on YouTube

January 30, 2023
4
NFT Collection MonsterBuds Genesis Price, Stats, and Review
Crypto News

NFT Collection MonsterBuds Genesis Price, Stats, and Review

January 30, 2023
5
5 of biggest stories this week- Ripple, Shiba Inu, VeChain, IOTA and Bitcoin
Crypto News

5 of biggest stories this week- Ripple, Shiba Inu, VeChain, IOTA and Bitcoin

January 30, 2023
10
SBF Tried to Influence a Former FTX Employee’s Testimony, US Prosecutors Claim
Crypto News

SBF Tried to Influence a Former FTX Employee’s Testimony, US Prosecutors Claim

January 29, 2023
3
Mango Markets Sues Hacker And More
Crypto News

Mango Markets Sues Hacker And More

January 29, 2023
9
Next Post
Biden moved quickly on Thursday to tout the good inflation news

Biden moved quickly on Thursday to tout the good inflation news

Recommended

Canada’s Aurora Cannabis to shut down a facility in Edmonton

Morgan Stanley hit bankers with up to $1 mln in penalties for messaging breaches

January 26, 2023
4
Litecoin to explode in price up to +285% as halving approaches

Litecoin to explode in price up to +285% as halving approaches

January 11, 2023
4
The Biggest GameFi Arcade in Crypto Presale Now

The Biggest GameFi Arcade in Crypto Presale Now

January 27, 2023
5
The Cost of Building a Mobile App for your Business in 2023

The Cost of Building a Mobile App for your Business in 2023

December 30, 2022
6
JPMorgan sees another 20% upside in Regeneron shares: this is why

JPMorgan sees another 20% upside in Regeneron shares: this is why

January 21, 2023
4
Your Trading Edge Magazine

This is an online news portal that aims to share the latest news about trade, finance, crypto and much more. Feel free to get in touch with us!

What’s New Here!

  • This Canadian Man Lost his Life Savings in a Crypto Scam on YouTube
  • NFT Collection MonsterBuds Genesis Price, Stats, and Review
  • How Warren Buffett’s Berkshire Hathaway came to own 20% of American Express

Subscribe Now

Loading
  • Contact
  • Privacy Policy
  • Advertise With Us

© 2021 - ytemagazine.com - All rights reserved!

No Result
View All Result
  • Home
  • Feature
    • Market Commentary
    • Expert Advice
    • Columns
  • Trading
    • Shares and Trading
    • Technical Analysis
    • Trading Mindset
  • Crypto News
  • Finance
  • Subscribe

© 2021 - ytemagazine.com - All rights reserved!

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?