Samsung Asset Management Launches Blockchain ETF in Hong Kong

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A subsidiary of the investment division of Samsung Corporation announced the creation of the "first in the history of Hong Kong and Asia" exchange-traded fund (ETF) for the securities of blockchain companies.

Samsung is set to launch an ETF on the Hong Kong Stock Exchange on June 23.The main goal of the new product is to achieve long-term capital growth throughinvestments in shares of companies actively involved in the development and implementation of blockchain.

The fund promises to invest in blockchain-related research and development companies: data providers, investment companies, and the like.The new product will be managed by the Samsung Asset Management team, which is responsible for the selection processissuers with small market capitalization or low trading volume.

Representatives of the South Korean tech giant say that the exchange-traded product is the first blockchain-related global ETF in the history of Hong Kong and Asia.Carmen Cheung, Director of Passive Investments at the company, noted the growing demand for blockchain-based applications and predicted growthIndustries in the future:

"The need for data processing and storage will increase as our digital world evolves.In the future, blockchain will be widely used for various enterprises and improve data efficiency, as well as security and speed.We see this technology as one of the main trends in digital transformation."

Earlier, Samsung teamed up with Nifty Gateway to launch its own NFT NFT platform Smart TV NFT for its new line of premium TVs.The new platform is designed for buying, selling, and viewing digital collectibles.

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