Samsung’s Bitcoin ETF, $700M bust, Coinbase exits Japan: Asia Express

Samsung’s Bitcoin ETF, $700M bust, Coinbase exits Japan: Asia Express


Our weekly roundup of news from East Asia curates the industry’s most important developments.

Samsung’s new Bitcoin ETF

On Jan. 13, Samsung Asset Management, a wholly-owned subsidiary of the namesake South Korean conglomerate, successfully listed the Samsung Bitcoin Futures Active ETF on the Hong Kong Stock Exchange. According to local news outlet Edaily, the ETF debuted under the ticker 3135:HK and seeks to replicate the performance of spot Bitcoin by investing in Bitcoin futures listed on the Chicago Mercantile Exchange (CME).

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The ETF will also simplify the procedures for investors seeking exposure to regulated Bitcoin products in the Asia-Pacific time zone. Park Seong-jin, head of Samsung Asset Management’s Hong Kong office, commented: 

“Hong Kong is the only market in Asia where Bitcoin futures

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