Samsung Asset Management will launch on June 23 ETFs By focusing on a blockchain company on the Hong Kong Stock Exchange.

According to the prospectus, the goal of the product is to achieve long-term capital growth through investments in shares of companies actively involved in the development and implementation of distributed ledger technology.

Samsung Asset Management is touting its blockchain ETF as “a first in Hong Kong and Asian history”. Carmen Chung, the firm’s head of passive investment, noted the growing demand for technology-based applications and predicted future industry growth.

“As the digital world evolves, the need for data processing and storage increases. In the future, blockchain will be widely used by various businesses to increase data efficiency and security,” he said.

Previously, Samsung Asset Management purchased a 20% stake in US ETF provider Amplify Holding for $30 million. The latter launched the Amplify Transformational Data Sharing ETF.

In May, media reported that the instrument is not expected to be listed in South Korea due to legal restrictions.

Recall that in April, iShares, an ETF provider affiliated with BlackRock, launched an ETF based on companies in the blockchain and cryptocurrencies fields.