Hong Kong-based Samsung Asset Management (SAMHK), a local subsidiary of Samsung’s investment arm, is moving forward with a blockchain-themed exchange-traded fund (ETF).
The firm expects to launch its Samsung Blockchain Technologies ETF on the Hong Kong Stock Exchange on June 23, SAMHK announced on Thursday.
The ETF seeks to achieve long-term capital growth by investing in stocks of companies actively involved in the development and adoption of blockchain technologies, the fund prospectus reads. The fund will invest in blockchain-related research and development firms, data providers, industry investment firms and others.
The ETF’s composition will be managed by SAMHK’s portfolio management team, responsible for filtering out firms with “small market capitalization or low trading volume.” The Samsung Blockchain Technologies ETF is a sub-fund of Samsung ETFs Trust, an umbrella unit trust established under Hong Kong law, the firm said.
According to the announcement, SAMHK positions the...
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