Samsung, the largest asset management in Korea, is planning to list its first crypto exchange-traded fund (ETF) which has been experiencing traction since January 2022. Besides, other major industries are also eyeing to join the crypto EFT.
Samsung dominates the crypto industries
According to a local media report, the listing will be the first Asia ETF to include actual cryptos as the capital market company tries to make itself readily available to the globally growing blockchain market.
However, this will indirectly involve digital assets as a there might be a delay in its domestic listing similar to this week’s Australia delay as they launched 3 crypto-related ETFs.
The management had recently purchased a 20% stock worth $30 million in AmplFi, a US-based management firm, gaining AmpliFi EFT sales in Asia.
Besides, there were speculations that the much-anticipated launch of ETF will use the same structure as the AmpliFi. A firm is required to invest a minimum of 80% of its net asset in the equity securities of the blockchain companies.
The issue of investing in crypto-related companies is becoming famous day by day. Some of these companies include NVIDIA which makes GPUs for Bitcoin (BTC) mining and Silvergate which offers banking services, in addition, there are other financing organizations like Coinbase, Galaxy Digital Holdings, and many more.
However, the current trends of Crypto ETFs are one of the ways that are being carried out today to invest in the digital assets with Samsung asset management listing Crude oil EFTs, FANG+, and many more on the Hong Kong stock exchange.