Korean technology conglomerate Samsung is looking to beat its competitors in Hong Kong by offering a spot Bitcoin exchange-traded fund (ETF) for investors to gain better exposure to the leading cryptocurrency. 

Speaking in an interview with Bloomberg earlier this week, Sam Park, the Hong Kong chief executive for Samsung Asset Management, confirmed that the investment division is looking into launching a spot Bitcoin ETF that will be domiciled on the Hong Kong Stock Exchange. Park explained that they are closely monitoring the development of policies in the region and would prefer to launch an ETF there as quickly as possible. 

Park added that Samsung Asset Management is interested in applying for and launching a spot Bitcoin ETF on the Hong Kong Stock Exchange. 

(By Jimmy Aki)