The mass adoption of Bitcoin continues as the king coin manages to break the important psychological level of $20k. Check out the latest report about the king coin below and see how Samsung is helping the mainstream adoption of BTC.
Bitcoin adoption boom boosted by Samsung
The Hong Kong-based subsidiary of Korea’s largest investment manager, Samsung Asset Management, is set to offer Bitcoin (BTC) futures exchange-traded funds (ETFs) to investors in Asia.
Samsung Asset Management Limited (SAMHK) said that it expects to list the new investment product on the Hong Kong Exchanges and Clearing Limited (HKEX) on January 13th.
It’s also important to note the fact that the HKEX is the only exchange in Asia to offer Bitcoin futures.
Back in December, the stock market debuted the first crypto asset ETFs in the region with the launch of CSOP Asset Management’s Bitcoin futures ETF and Ethereum (ETH) futures ETF.
“SAMHK’s Samsung Bitcoin Futures Active ETF will not invest directly in Bitcoin, but it will give investors exposure to the benchmark crypto asset by investing primarily in front-month Bitcoin futures contracts traded on the Chicago Mercantile Exchange (CME).”
The official notes reveal the following fact:
“In seeking to achieve the Sub-Fund’s investment objective, the Manager adopts an active investment strategy whereby it will enter into and have exposure of up to 100% of the Sub-Fund’s net asset value (‘NAV’) in Bitcoin Futures on CME.”
Regarding the price of Bitcoin today, at the moment of writing this article, BTC is trading in the green, and the king coin is priced at $20,637.
El Salvador keeps Bitcoin in the spotlight
A lof of BTC fans on Twitter are cheering for El Salvador and its Bitcoin praise. During the Miss World the representing of the country wore a BTC outfit and had people going crazy with excitement.
Check out the following video on Twitter below.
— Bitcoin Magazine (@BitcoinMagazine) January 12, 2023
El Salvador as a nation became a sort of Bitcoin “maximalist” through its President a while ago.