Samsung’s Investment Arm To Pursue Blockchain ETF

In order to capitalize on increased demand, Samsung Group’s investment arm is pursuing Asia’s first blockchain ETF.

Samsung Asset Management, based in South Korea, plans to debut the fund on the Hong Kong Stock Exchange in the first half of 2022, according to The Korea Economic Daily.

It’s the first time in Asia that an ETF of this type – which contains crypto – would be listed. The vehicle will be used to follow a group of leading blockchain technology companies.

The move comes after the asset management bought a 20% interest in US ETF provider Amplify Holding Company through a special purpose vehicle in late March. According to a news statement, the investment arm is Amplify’s sole ETF partner in Asia.

Samsung’s ETF is believed to be quite similar to Amplify’s BLOK ETF, which invests 80 percent of its net assets in equity shares of blockchain-based companies (albeit under its own brand). Coinbase, Microstrategy, Nvidia, SBI Holdings, and Galaxy Digital are among the top holdings in the BLOK ETF.