Bitcoin News

Bitcoin Recovers to $20,000… Samsung Bitcoin ETF Returns +10%

On the 20th, Samsung Asset Management said that the ‘Samsung Bitcoin Futures Active ETF,’ which debuted on the Hong Kong stock exchange on the 13th, had gained 10% in a week.

The Samsung Bitcoin Futures Active ETF is an ETF that invests in Bitcoin futures products traded on the Chicago Mercantile Exchange to achieve investment performance that is as close to spot Bitcoin as feasible (CME).

The Bitcoin Futures Active ETF’s high yield is attributable to the recent increase in the probability of reducing inflation, restricting interest rate rises, and alleviating the strong dollar issue. It has been determined that it has been affected by a constant sharp climb to the level of $1,000.

The ETF opened at 8.37 Hong Kong dollars on the 13th, the day of its listing, and closed at 9.26 Hong Kong dollars on the 19th, a 10.63% increase in 5 trading days. During the same time period, the spot bitcoin price rose by approximately 10.57% from $18,827 to $20,818.

Because the Samsung Bitcoin Futures Active ETF is registered on the Hong Kong Stock Exchange, investors can avoid risks like as bankruptcy and hacking of spot exchanges that may arise when investing in spot Bitcoin directly.

The listing of Bitcoin ETFs will widen the investor base for Bitcoin,” said Park Seong-jin, head of Samsung Asset Management Hong Kong. Given this, it is preferable to invest in generic securities for the aim of diversification.”


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