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Samsung Asset Management (Hong Kong) Limited has announced a new exchange-traded fund focusing on blockchain technologies, according to a statement.
The Samsung Blockchain Technologies ETF is set to be listed on the Stock Exchange of Hong Kong on June 23, 2022, priced at $2.0 with an initial investment of some $100 for a 50-unit board lot size. It will be traded in HKD.
Head of ETF and Passive Investment Carmen Cheung believes data processing and storage demand will fast-track the evolution of the digital world, with blockchain seen to be used for data efficiency and security.
The ETF will be actively managed, allowing a portfolio manager to dive into the sector with a higher degree of flexibility. The fund will invest in global blockchain-related firms such as developers with research and development.
The fund will have a 0.85% management fee per annum. BKCH was down 3.97% after hours, while CBCX was down 2.66%.
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