During the first half of this year, The Samsung Group’s investment arm is expected to list a blockchain exchange-traded fund (ETF) on the Hong Kong Exchange. The ETF will be structured similarly to BLOK, another Amplify Holdings ETF.
Amplify Holdings is Owned by Samsung Asset Management
The parent business Samsung Group has announced that Samsung Asset Management Company (SAMC) will list a blockchain exchange-traded fund (ETF) on the Hong Kong Exchange in the first half of 2022. The debut of an exchange-traded fund (ETF) that follows cryptocurrencies and blockchain technology firms.
The ETF listing is likely to take place in the first half of 2022, only weeks after SAMC was reported to have purchased a 20% share in Amplify Holding Company, a U.S. ETF sponsor. Samsung Group’s investment arm will have exclusive rights to provide Amplify products in Asia as part of a $30 million acquisition agreement with Amplify Holding.
The BLOK, or Amplify Transformational Data Sharing ETF, is supposed to invest “at least 80 percent of its net assets in equity securities of blockchain firms,” according to the ETF sponsor. According to the article, the asset manager’s ETF will have the same structure as BLOK.
There are no Plans to List on the Korean Stock Exchange
Silvergate Capital, the graphics processing unit (GPU) manufacturer Nvidia, Galaxy Digital Holdings, and Coinbase are among the blockchain startups in which Amplify Holding has invested. The asset manager intends to brand the ETF with its own name. Due to the country’s cryptocurrency restrictions, SAMC may not be able to list the ETF of the South Korean stock market anytime soon, according to the article.
However, according to the source, the asset manager is considering listing some of Amplify’s other ETFs in both Korean and international markets.
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