Samsung Asset Management Breaks Record High with 'Bitcoin Futures ETF'

Samsung Asset Management announced on the 16th that the "Samsung Bitcoin Futures Active Exchange-Traded Fund (ETF)" listed on the Hong Kong market recorded a new high of 20.33 Hong Kong dollars. Since its listing at 8.37 Hong Kong dollars in January last year, it has risen 142.9% in 13 months.

The rise of the Samsung Bitcoin Futures Active ETF reflects the realization of the anticipated increase in demand for physical Bitcoin in the market following the U.S. Securities and Exchange Commission (SEC)'s approval of the listing of Bitcoin spot ETFs. Additionally, with the halving event (supply reduction by half) scheduled for April this year approaching, Bitcoin prices surpassed 50,000 U.S. dollars for the first time in 26 months.

Accordingly, the net assets of the Samsung Bitcoin Futures Active ETF have rapidly grown about fivefold from 2.5 million U.S. dollars (approximately 3.3 billion KRW) at the time of listing to 12.35 million U.S. dollars (approximately 16.5 billion KRW).

The Samsung Bitcoin Futures Active ETF invests in Bitcoin futures listed on the Chicago Mercantile Exchange (CME) instead of investing directly in Bitcoin spot. Since it is managed through an indirect investment method that tracks Bitcoin returns, domestic investors can easily invest.

It is free from risks such as settlement accidents that may occur during Bitcoin spot trading, bankruptcy of spot exchanges, and hacking. It is positively evaluated by general securities investors due to advantages such as convenient investment using existing securities accounts without the need for cryptocurrency wallets.

Yoo Jin-hwan, head of the Global Strategy Planning Team at Samsung Asset Management, said, "Although Bitcoin spot ETFs initially saw concentrated sell-offs after launch, recent buying momentum has continued, turning new investment funds into net inflows, showing rapid market stabilization." He added, "As the physical price of Bitcoin has recently shown a significant rise again, domestic investors are showing great interest in the Samsung Bitcoin Futures Active ETF, which allows convenient investment during regular daytime hours."