According to the recent developments, Samsung Group’s Investment arm, which has been recently active in the crypto industry, is set to list an Exchange-traded fund on blockchain on the Hong Kong Exchange in the first half of 2022. This action of the giant is in accordance with several other investment groups that are adding crypto investments to their long list of portfolios.
According to the reports, the ETF will have a structure similar to one of Amplify Holding’s ETF products called Blok.
Samsung Asset Management acquires a Stake in Amplify Holdings.
SAMC or Samsung Asset Management Company will be the managing partner of this listing, according to a statement released by the investment arm of the parent company. This listing of the ETF, which tracks crypto and blockchain technology companies, will be a first for Asia.
While the listing will come in the first half of this year, SAMC has already reportedly acquired a 20% stake in Amplify Holding Company, a US ETF sponsor. Pertaining to this $30 million acquisition agreement, the parent company’s investment arm has gained exclusive rights to offer Amplify products in Asia.
Amplify Holdings, a company popular for its ETF products such as Block and Amplify Transformational Data Sharing ETF, is expected to invest “at least 80% of its net assets in equity securities of blockchain companies.” Moreover, according to the report, SAMC’s ETF will also have a structure similar to that of BLOK.
Amplify Holding has been proactive with the investments and has invested in several blockchain companies such as Silvergate Capital, the GPU provider Nvidia, Coinbase and Galaxy Digital Holdings.
Moreover, according to the Korea Economic Daily report, the asset management plans to brand the ETF under its name, and SAMC might not list the ETF in the South Korean Stock MArket anytime soon due to the country’s cryptocurrency regulations. On the contrary, the asset manager does plan to list some of Amplify’s other ETFs in the Korean and other overseas markets.