Hong Kong-based Samsung Asset Management (SAMHK), a local subsidiary of Samsung’s investment arm, is moving forward with the establishment of a blockchain-themed exchange-traded fund (ETF).

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The firm expects to launch its Samsung Blockchain Technologies ETF on the Hong Kong Stock Exchange on June 23, SAMHK announced on Thursday.

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The ETF seeks to achieve long-term capital growth by investing in shares of companies actively involved in the development and implementation of blockchain technologies, the fund’s prospectus says. is reading. The fund will invest in blockchain-related research and development firms, data providers, industry investment firms, and others.

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The composition of the ETF will be managed by SAMHK’s portfolio management team, responsible for filtering out firms with “small market caps or low trading volumes.” The Samsung Blockchain Technologies ETF is a subsidiary of the Samsung ETFs Trust, an umbrella mutual fund established under the laws of Hong Kong, the firm said in a statement.

According to the announcement, SAMHK is positioning the new investment product as “the first ever global blockchain ETF in Hong Kong” as well as in Asia.

Carmen Chung, head of ETFs and passive investments at SAMHK, noted the growing demand for applications based on blockchain technology, predicting the growth of the industry in the future, stating:

“The need for data processing and storage will grow as our digital world evolves. Blockchain technologies will be widely used in the future for various enterprises to improve data efficiency, security, and reduce access time. We see this as one of the future digital transformation trends.”

SAMHK is one of several global subsidiaries of Samsung Asset Management, a wholly owned subsidiary of the Samsung Group. According to the company’s official data, Samsung Asset Management was one of the first companies in South Korea to surpass a milestone of 100 trillion Korean won ($79 billion) in assets under management in 2011.

ETF launch shortly after Samsung Asset Management acquired 20% stake in U.S. ETF sponsor Amplify Holding Company in March 2022, reportedly. becomes second largest shareholder.

‘Bitcoin themed’ ETFs listed on Italian stock exchange Borsa Italiana

In recent years, the Samsung Group has been actively exploring the blockchain and cryptocurrency industry, supporting cryptocurrency transactions on its flagship Samsung smartphones and investing in major crypto wallets. The South Korean tech giant has also experimented with non-fungible tokens, launching a line of smart TVs with an integrated NFT platform in January 2022.