Simmons & Simmons announced today that it served as the legal counsel to Samsung Asset Management (Hong Kong) Limited (SAMHK) on the launch of the Samsung Blockchain Technologies ETF (the ETF), the first global blockchain ETF listed in Asia. The blockchain ETF was listed today on The Stock Exchange of Hong Kong Limited (SEHK).
The ETF will employ an active management investment strategy and will seek to achieve long-term capital growth by investing primarily in equity securities of companies which are actively involved in the development and/or utilisation of blockchain technologies. The ETF may also, on an ancillary basis, invest in other ETFs that are related to development and/or utilisation of blockchain technologies, including cryptocurrency futures ETFs listed in the United States.
The ETF was created in a bid to capitalise on growing demand for exposure to blockchain technologies globally.
Eva Chan, partner of Simmons & Simmons commented: “We are delighted to work with the Samsung team on the launch of the first global blockchain ETF in Hong Kong. Taking part in the pioneering launch of this ETF and exploring opportunities in the blockchain space has been both challenging and exciting. We are proud to be part of this innovative project, which further cemented Simmons’ reputation as an expert of the ETF market in Hong Kong.”
Carmen Cheung, Head of ETF and Passive Investment at Samsung Asset Management said, “The demand of data processing and storage will expedite with the evolution of our digital world. Blockchain technologies will further be widely used for different businesses to improve data efficiency, security and shorten the accessibility time. We see the launch of this ETF as a way to tap on one of the future trends on digital transformation. We would also want to thank the Simmons’ team for their efforts and assistance, which is crucial to the successful launch of this ETF.”