Tag: ETF

Samsung investment arm considering spot-Bitcoin ETF in Hong Kong

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Hot on the heels of its Bitcoin (BTC) futures exchange-traded fund (ETF) in Hong Kong, Samsung Asset Management has indicated it’s considering the launch of a spot Bitcoin ETF on the city’s exchange if policies allow for it. In an interview with Bloomberg published on Jan. 13, Hong Kong chief executive for Samsung Asset Management, Sam Park, said: “It really depends on how policy is going to be developed,” adding that the Hong Kong administrators are “clearly” interested in developing the city into a crypto hub. An ETF analyst at…

Samsung Investment Arm to Launch Bitcoin Futures ETF in Hong Kong

When the ETF goes live, it will offer diversification and a means for investors to meet their demands. Samsung Asset Management, the investment arm of the financial services giant, has announced its plans to launch a Bitcoin Exchange Traded Fund (ETF) product, giving investors a new way to gain exposure to the digital currency. As reported by Cointelegraph, the proposed product, dubbed the “Samsung Bitcoin Futures Active ETF” is billed to float on January 13 and will be trading on the Hong Kong Stock Exchange. The proposed product will offer…

Samsung investment arm to launch Bitcoin Futures ETF amid rising crypto interest

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In Hong Kong, the bell rings for Bitcoin (BTC). Samsung Asset Management Hong Kong (SAMHK), a subsidiary of Samsung’s investment arm Samsung Asset Management, is set to list the “Samsung Bitcoin Futures Active ETF” on the Hong Kong stock market on Jan. 13. The move comes amid a surge in interest from both the government and institutional investors in the region. The Hong Kong Stock Exchange. Source: thetradenews.com The ETF, or exchange-traded fund, will track the spot price of Bitcoin by investing in Bitcoin futures products listed on the Chicago…

Bitcoin mining ETF tops equity ETF market in new year’s performance charts

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Bitcoin (BTC) and other altcoins started the new year on a bullish note, with most cryptocurrencies surging to multi-month highs. Apart from the spot market, the equity exchange-traded fund (ETF) market is also dominated by BTC, wherein Valkyrie’s Bitcoin Miners ETF (WGMI) is the leading equity ETF market and is up by 40% year to date. The Bitcoin mining ETF is leading the traditional equity ETF market and the leveraged equity ETFs, which is considered a rare occurrence. Bloomberg senior ETF analyst Eric Balchunas pointed out that the Valkyrie Bitcoin mining ETF is…

Grayscale May Liquidate 600,000 BTC Holdings Following SEC Opposition To ETF

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Grayscale Investments may offer to buy up to 20% of Grayscale Bitcoin Trust  (GBTC) shares. This is a move the company hopes will close the gap between the GBTC share price and the company’s underlying Bitcoin holdings. Grayscale Can’t Act Independent Of Investors The Wall Street Journal released a letter by Grayscale CEO Michael Sonnenshein urging that Grayscale would consider issuing a tender offer should the Security and Exchange Commission (SEC) and shareholders give their approval. Being a close-ended fund, GBTC shareholders can only liquidate their holdings on the open market.…

Grayscale CEO highlights 20% GBTC share buyback option if ETF conversion fails

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According to an end-of-year letter to investors published on Dec. 10, Grayscale Investments CEO Michael Sonnenshein said that the firm might consider “a tender offer for a portion of the outstanding shares of GBTC [Grayscale Bitcoin Trust]” if the latter’s exchange-traded fund (ETF) conversion process is ultimately unsuccessful. Sonnenshein stated that “such tender offer would be for no more than 20% of the outstanding shares of GBTC” and would require both regulatory “relief” from the United States Securities and Exchange Commission as well as shareholder approval. Grayscale and its subsidiary…

Grayscale to Refund 20% of Investor’s Capital if SEC Denies Its ETF Bid

While little is known about its fight with the SEC, Grayscale is already preparing for future moves in case it loses the battle. Grayscale Investments, one of the biggest asset management firms in the digital currency ecosystem is mulling plans to repay its investors should its ETF plans fail. As reported by the Wall Street Journal (WSJ), the move will be activated if the company, a subsidiary of the Digital Currency Group (DCG) is unsuccessful in its broader bid to push the United States Securities and Exchange Commission (SEC) to…

SEC looks to intercept Grayscale Bitcoin ETF review bid

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The United States Securities and Exchange Commission (SEC) is taking further steps to stop Grayscale Investments’ efforts to launch a Bitcoin (BTC) exchange-traded fund (ETF). Grayscale began its legal challenge of the SEC’s denial order of the proposed investment product in June 2022. A 73-page brief filed with the U.S. Court of Appeals for the District of Columbia Circuit on Dec. 9 saw the SEC lay out the reasoning for its initial decision to bar Grayscale’s request to convert its existing Bitcoin Trust into a spot Bitcoin ETF. The SEC…