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Yet Another Bitcoin Spot ETF Application: Valkyrie Joins The Club

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Valkyrie, a cryptocurrency fund manager, has submitted an application to the Securities and Exchange Commission (SEC) for a Bitcoin spot exchange-traded fund (ETF), joining a number of other financial institutions who have recently done the same. On June 21, Valkyrie submitted an S-1 registration form to the SEC for a Bitcoin spot ETF. It stated that the company intended to try to launch its fund on the Nasdaq under the ticker name BRRR.

When it comes to Bitcoin futures ETFs, Valkyrie is an expert. In October 2021, it introduced the Valkyrie Bitcoin Strategy ETF (BTF), the second BTC futures ETF in the US, and in December of the same year, it introduced the Valkyrie Balance Sheet Opportunities (VBB). VBB was dissolved in October 2022. Additionally, Valkyrie manages the Valkyrie Bitcoin Miners ETF (WGMI), which tracks stocks of businesses that make money or generate revenue from bitcoin mining.

The business submitted an application on May 16 for the Valkyrie BTC Futures Leveraged Strategy ETF (BTFD), a BTC futures ETF. As with the firm’s proposed BTC spot ETF, BTFD would be a fund as opposed to a trust.

The recent activities of its rivals appears to have motivated Valkyrie to act. In a March episode of the Hashing It Out podcast, Steven McClurg, the chief investment officer at Valkyrie Investments, stated his belief that a BTC ETF would only be feasible “in a future administration after the next elections or through legislative action.”

But on June 15, BlackRock submitted an application to list a BTC spot ETF as a trust on the Nasdaq. On June 20, WisdomTree and Invesco submitted comparable proposals. Unverified rumors also claim that Fidelity will submit an application for a BTC spot ETF. BTC is sharply climbing in the meantime, up 6.41% as of this writing.

Samsung Launches Asia’s First Bitcoin ETF

A wholly owned subsidiary of the South Korean company bearing the same name, Samsung Asset Management, successfully listed the Samsung BTC Futures Active ETF on the Hong Kong Stock Exchange on January 13. The ETF, which started with the ticker 3135:HK, invests in Bitcoin futures listed on the Chicago Mercantile Exchange (CME), attempting to mimic the performance of spot Bitcoin.

SamsungBTC
Samsung BTC Futures Active ETF

Additionally, the ETF will make it easier for investors in the Asia-Pacific time zone to access regulated BTC products. The director of Samsung Asset Management’s Hong Kong branch, Park Seong-jin, said,

“Hong Kong is the only market in Asia where Bitcoin futures ETFs are listed and traded in the institutional market. It will be a new option for investors who are interested in Bitcoin as a competitive product that reflects their experience in risk management and risk management.”

Crypto.Com And Samsung Join Forces To Bring Enhanced Crypto App To Millions Of Users Worldwide

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A recent collaboration between Crypto.com and Samsung seeks a better cryptocurrency trading experience for users. To provide a more full and seamless user experience, the collaboration entails optimising the Crypto.com software for Samsung Galaxy Z Fold devices, including the most recent Galaxy Z Fold4.


Crypto.com announced in a press release on April 27 that the new version of their app is designed to enhance trading and analysis capabilities, aiming to provide a more robust user experience.

Crypto.Com And Samsung Collaboration

Crypto.com is the dominant platform to offer a “tailored experience” for Galaxy Z Fold devices. Additional tools and materials will be available on a single screen. Eric Anziani, President and COO of Crypto.com, commented on the latest partnership.

“This collaboration with Samsung will allow users to experience our app like never before. Together, Samsung and Crypto.com have optimized the Crypto.com App for the large screen experience, taking advantage of the foldable form factor, to bring a more productive way of using the app for the trading and analysis of cryptocurrencies.”

Samsung has been involved in the world of cryptocurrency for some time, starting from the launch of a crypto wallet in the Galaxy S10 smartphone in 2019. This wallet, known as the Samsung Blockchain Wallet, included support for several well-known cryptocurrencies like Bitcoin and Ethereum, and it was also integrated with decentralised applications (DApps).

Additionally, the advancement of blockchain technology has been actively explored by Samsung SDS, a division of the Samsung Group.

Leading trading platform, Crypto.com, provides a variety of goods and services, such as trading, staking, and lending. Crypto.com has established itself as one of the most well-known and dependable platforms, boasting over 10 million members worldwide. The platform is renowned for its intuitive user interface and first-rate customer service.

The update gives users access to additional tools and information on a single screen, making it easier than on other mobile devices to compare a variety of tokens at once.

Partnerships are one strategy used by Crypto.com to promote widespread adoption. The business has also been growing geographically to serve more customers. It has also started listing out tokens focused on the community to meet the rising demand.

The Dubai Virtual Assets Regulatory Authority granted Crypto.com an “MVP Preparatory Licence” last month. For approved applicants, the MVP phase of the preparatory stage provided the opportunity to satisfy all prerequisites for starting MVP market operations. This indicates that once Crypto.com obtains the necessary permits to begin operating, it can “extend” the approved range of virtual asset-related operations.

CROUSDT 2023 04 27 22 07 52
Source: Cronos/USDT by TradingView
Today’s strong increase was recognised by the native token of the exchange, CRO. In fact, it continued and reached $0.835, which was a level last reached in February, to establish a multi-week high. However, immediately afterward, there was a pullback. However, CRO had gained 4.91% on a daily basis and was up at $0.747 at the time of publication.

Related Reading: | Cardano Ranks 3rd Among Best-Developed Crypto Assets |

SAMHK To List Samsung Bitcoin Futures Active ETF in Hong Kong

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WU blockchain reported today that Samsung Asset Management (SAMHK) would list the “Samsung Bitcoin Futures Active ETF” in Hong Kong on January 13th. 

Investors seeking to replicate spot BTC returns now can do so through the Samsung Bitcoin Futures Active ETF. This ETF invests in BTC futures products listed on the Chicago Mercantile Exchange (CME), making it a convenient option for domestic and Asian investors to participate in BTC futures during the Asian time zone.

In addition to traditional futures contracts, the ETF may also invest in micro-Bitcoin futures, which allow for smaller investment amounts and lower margin requirements, making it accessible to a broader range of investors.

The head of Samsung Asset Management’s Hong Kong office, Park Seong-jin, said:

It will be a new option for investors who are interested in Bitcoin as a competitive product that reflects their experience in risk management.

However, it eliminates spot market risks by investing in CME-listed futures only, with an annual management fee of 0.95%. These risks include payment accidents, bankruptcy, hacking of spot exchanges, and others.

SAMHK made a bold move last year by introducing two new ETFs to the Hong Kong market, the first of their kind in Asia. The Samsung Global Blockchain Industry ETF allows for investment in the global blockchain industry, while the Samsung Asia Pacific Metaverse ETF enables investment in key metaverse industries in the Asia Pacific region.

The Only Market In Asia To Trade Bitcoin Futures ETFs 

According to WU Blockchain, CSOP Bitcoin Futures ETF, the first Bitcoin futures ETF in Asia, has been listed in Hong Kong for almost a month and has seen a cumulative trading volume of $12M and a daily trading volume of $630k.

The CSOP Bitcoin Futures ETF, a sub-fund of the CSOP ETF Series, is an actively managed exchange-traded fund established under Hong Kong law. The sub-fund units can be traded on the Stock Exchange of Hong Kong, similar to stocks and denominated in USD.

At present, the market for Bitcoin futures ETFs worldwide, which encompasses regions such as the US, Canada, Australia, and Hong Kong, holds an estimated worth of 1 trillion won. However, Hong Kong stands out as the exclusive Asian market that allows for its trading.

Related Reading | Binance’s BNB Price Recovery: What to Expect

Polygon: Whale Shuffles 9M MATIC Tokens To Binance

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Polygon’s native token MATIC was caught shuffling between exchanges among whales. Data from Lookonchain revealed that an unknown large-scale holder has transferred 9 million MATIC tokens that are worth roughly $8 million to Binance.

Drilling deeper, the whale has been on an accumulation spree as its address. This large holder has been receiving MATIC from exchanges and staking before, with a total of 153.4 million MATIC, and the average receiving price is $1.16.

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Polygon: Whale Shuffles 9M MATIC Tokens To Binance 4

For Polygon investors, 2022 was not a memorable year because the cryptocurrency ended the year with losses of more than 70%; however, the coin has had a more promising start to 2023.

The 10-ranked token kickstarted the new year on a positive note, rising by over 11% in the first week of January.

The reason behind this latest surge in the price of the coin has been attributed to the buying pressure from the Ethereum whales.

The top 500 ETH whales were buying up MATIC over the New Year, according to statistics from cryptocurrency whale tracking firm WhaleStats, as the token entered their top 10 list of most-bought coins.

These figures indicated that Ethereum whales have been favoring MATIC in the first two days of the year so far.

As for the Polygon ecosystem, its streaming app, savage, has landed a collaborative deal with electronic and smart appliance tech giant Samsung.

Polygon Has Become Tech Firms’ Favorite

The Savage App will be able to provide Web3 users with the highest-quality images and videos thanks to the cooperation.

The Savage Smart TV software would connect IRL displays and upload high-quality movies from any store [up to 8K]. The technology is based on the Layer 2 blockchain, as one might assume.

Another example of its high-profile alliances and moves in the industry is the Mastercard announcement that shone the spotlight on Polygon even more as Web3 development and discussion continued.

Mastercard said that it would launch the Mastercard Artist Accelerator on the Polygon blockchain at the Consumer Electronics Show in Las Vegas, Nevada.

The objective is to instruct musicians on how to advance their careers through forging fan connections, building a strong online presence, and minting NFTs.

Former Solana exclusive NFT project Yoots made an unexpected entry in December 2022 about switching from Solana to Polygon.

The NFT projects created on the Polygon network underwent a tremendous expansion with the help of this. Additionally, The Sandbox declared early in 2022 that it would join the Polygon network.

Samsung adds crypto wallet and storage features on the new Galaxy S22

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Tech giant Samsung introduced today at their Unpacked 2022 event the Samsung Wallet. It can contain personal IDs, including student IDs, driver’s licenses, and state IDs, plus digital house or vehicle keys, credit and debit cards, boarding permits, and immunization data. The wallet may also be used to “access and explore complicated digital items” such as cryptocurrencies.

The wallet facilitates safe payments, presumably using Samsung Pay. The Samsung Wallet will be supported across all Galaxy S22 series phones. However, it’s not foolproof if earlier Galaxy phones are supported.

User information on the Galaxy S22 series is safeguarded by Samsung’s Knox Vault technology, which leverages its own secure CPU and memory. It separates passwords, Blockchain keys, and other sensitive information from the phone’s primary operating system to keep it more secure.

Samsung putting up some competition with Apple

The Samsung Wallet is a new rival to the Apple wallet, allowing Apple customers to save identical payment details and personal data. Unlike Apple, Samsung has been keen on crypto for a long time. On May 13, 2021, Samsung announced that it would allow users to use blockchain on their devices with support for hardware wallets. Apple had recently revealed plans to provide Tap to Pay on the iPhone, hinting at the possible chance to include support for cryptocurrencies.

Samsung deep dives into the metaverse

The Galaxy Unpacked 2022 event was held in the Decentraland Metaverse. Samsung revealed their latest Galaxy smartphones at a virtual Samsung 837X venue. More than 100,000 people registered for the virtual event, which included the opportunity to pre-order the new premium cellphones.

In early January, the firm made its Metaverse debut by launching its flagship 837 shop in collaboration with Decentraland. “This is one of the largest brand land takeovers in Decentraland’s history,” the company claimed at the time.

Samsung is likewise seeking to get its hands on NFTs. They stated that starting with its 2022 TV range would provide broad support for NFTs.

“In 2022, Samsung will launch the world’s first TV-based NFT explorer and marketplace aggregator, a ground-breaking platform that allows you to browse, purchase, and show your favorite art in one location.”

Samsungs upcoming NFT TV platform

More data on the NFT platform should be accessible once the 2022 TVs start selling in the following months.

Smartphone Giants Samsung to Add Support For Stellar Payments Blockchain

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On July 15, the Stellar Development Foundation (SDF) revealed that it has been working with South Korean electronics giants, Samsung, to link its blockchain to the Samsung Blockchain Keystore. The addition of Stellar payments blockchain to Samsung gadgets aims to allow Stellar users to handle their private keys properly and securely.

The management and storage of private keys have been a major challenge for blockchain users. Indeed, the ability to manage private keys safely and comfortably is a vital barricade that the blockchain industry must resolve if it wants to achieve mass adoption. Although there is software that can store private keys on behalf of users,  they have been faced with security vulnerabilities.

Samsung’s secure and easy to use key management capability

Notably, the safest technique is the use of hardware-grade isolation. A different computer processor that can only be accessed by sanctioned software is used to secure private keys from snoopy individuals. This is the same capacity of security that Samsung launched earlier this year. While launching the new S20 Galaxy model, Samsung stated:

“We created a secure processor dedicated to protecting your PIN, password, pattern, and Blockchain, Private Key. Combined with the Knox platform, security is infused into every part of your phone, from hardware to software. So private data stays private.”

Back in March 2019, Samsung added support for Ether while releasing its Galaxy S10 model. Later in the same year, smartphone giants also integrated support for Bitcoin, opening the way for more than 30 different cryptocurrencies. SDF ‘s move to integrate Stellar payments blockchain with Samsung is crucial, as the electronics company is a terrific global distributor. According to data by Statista, Samsung sold approximately 300 million gadgets in 2019 alone.

Stellar payments blockchain on Samsung smartphones

Capacity to provide smooth and secure key management; is not the only reason Stellar ‘s blockchain payments partnered with Samsung. Stellar ‘s ambition to further expand its global presence is a crucial factor in the new partnership. It provides a platform for Stellar-based companies to create innovative applications for Samsung users.

Furthermore, now that Samsung is supporting Stellar, its developers can now develop blockchain applications and solutions for Samsung Galaxy phones. However, not all of the Samsung gadgets support integration. Supported models include the Galaxy S20 Series, Galaxy Z Flip, Galaxy Note 10 Series, Galaxy Fold and Galaxy S10 Series.

TRON claims another milestone as Samsung adds API support for transactions

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The Samsung and Tron tie-ups had made significant news in the cryptosphere recently, and the latest move from the South Korean tech giant is another step in the right direction. Reports have come in that the company has added updates into its Blockchain Keystore SDK that will enable it to process Tron transactions.

Misha Lederman had tweeted:

“Samsung formally adds “APIs to support Tron transactions.” to @Samsung Blockchain Keystore SDK v1.2.0 (Oct 29, 2019)

Source:🔗 http://developer.samsung.com/blockchain/keystore/release-note

This means that #TRON APIs for #TRX-based tokens & DApps could soon be accessible to around 1 billion global Samsung users.”

The last update on the Samsun SDK occurred on August 8, 2019, when the company decided to add APIs to support Bitcoin and Klaytn transactions. Lederman had further added:

“Amazing to comprehend that adding #TRON APIs to @Samsung Crypto Wallet also means that TRC10 tokens such as @BeatzCoin  BTZC &  @BitTorrent  BTT  + TRC20 tokens like  @WINkorg  WIN & @Tetherto  USDT-TRON will also be exposed to each Samsung mobile phone user w/ a #Blockchian Keystore.”

The update is set to increase security and to build mobile-compatible DApps on the blockchain. The update has a particular emphasis because it will enable Tron’s features to be on display to Samsung’s billion-plus customer roster. Samsung has made it clear that it considers blockchain technology the next big thing and had recently stated:

“Samsung believes in an open environment and embraces the idea that the decentralized world will revolutionize how we interact, work, and play. Join us as we share our position on blockchain technology and what Samsung hopes to do by collaborating with developer communities and various protocols to further this revolution.”

The latest feature will enable Tron and its subsidiaries to penetrate the mainstream tech space by integrating its features with day to day working. Samsung’s broad user base will also lend a helping had to Tron, allowing it to reach users who were thought to be to spread out thinly.

Disclaimer: The presented information is subjected to market conditions and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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Justin Sun forays into Samsung’s upcoming event to raise awareness about Tron and blockchain technology

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Samsung’s upcoming SDC 2019 has been touted by many in the technology space as the showcase for the latest developments in the mobile and computing space. Reports, however, have emerged that there will be a digital assets aspect for the conference too, with Misha Lederman, a popular Tron enthusiast tweeting:

“Something brewing in TRON:”

“In an agenda that’s predominantly run by @Samsung personnel, it’s quite intriguing that #TRON blockchain founder @justinsuntron is leading a session of his own. It’s titled TRON, Blockchain, & Real-World Use Cases”Indeed #TRX”

Lederman was right in predicting that there is a focus on blockchain technology and cryptocurrencies as the program agenda clearly details a multi-step agenda to promote the field.

One of the blockchain-related events is called ‘Market Trends and Opportunities for Blockchain-Based Decentralized Identity (DID),’ where key industry leaders will share insights on market trends and opportunities for Decentralized ID based on blockchain technology.

Another keynote related to the digital asset market will be called the ‘Samsung Blockchain is open for Partnerships.’ According to Samsung:

“Samsung believes in an open environment and embraces the idea that the decentralized world will revolutionize how we interact, work, and play. Join us as we share our position on blockchain technology and what Samsung hopes to do by collaborating with developer communities and various protocols to further this revolution.”

The Tron event during the SDC will be the last blockchain-related program where Justin Sun, the Chief Executive Officer [CEO] of Tron, will speak about how Tron will be used to make mainstream applications more streamlined and practical.

Samsung has been quite active in the blockchain space recently with the South Korean giant’s subsidiary, Samsung SDS, partnering with Tech Mahindra for a new Distributed Ledger Technology [DLT] product. The official press release from the company had stated:

“Samsung SDS, a global leader in digital transformation and innovation solutions, announced its collaboration with Tech Mahindra and Pega to launch a blockchain-based traceability solution integrating Pega Platform™ with Samsung SDS Nexledger Universal. This solution will be showcased across several industry events, including ENG’s 4th Annual Automotive Warranty Management USA Summit.”

Disclaimer: The presented information is subjected to market conditions and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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Samsung SDS reveals medical insurance solutions on the blockchain

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Samsung, the South tech behemoth has made its forward stance on cryptocurrency clear with Samsung SDS, an IT solution organization partly owned by the giant revealing that they were ready to release a blockchain-based medical claims processing system in the next two weeks.

Yoon Shim, the Vice President of Samsung SDS, stated:

“With the messenger app, you can easily claim complex premiums by simply pressing the claim button. It’s possible with a blockchain network that connects healthcare providers and insurers.”

The blockchain-based solution will be demonstrated through practical use cases and domestic-international cooperation. The SDS Vice President went on to talk about automatic claim service and logistics tracking management service based on the blockchain network. According to her:

“Medical institutions and insurers have created a ‘blockchain healthcare network’ to conduct PoC and validated its effectiveness and will be launched soon this month. Patients can use the messenger app after storing the medical institution. Claims are forwarded and insured to the insurer. ”

The company also elucidated that including pilot test cases, the organization has about 110 use cases at home and abroad. The source suggests these cases were the reason why the Samsung SDS became the representative blockchain company of Forrester’s Asia-Pacific region.

The organization is also part of the Forbes Blockchain Diffusion Reading Global 50 Company. Yoon Shim talked in detail about the aforementioned cases, pointing out that communication and media sectors were increasing in case of interest from the perspective of the entire value chain.

Earlier this year, SDS had announced a strategic collaboration with Tech Mahindra on the former’s blockchain platform, Nexledger. During the tie-up, Ted Kim, the Vice President of Blockchain team, Samsung SDS America, had said:

“Partnering with Tech Mahindra for their industry and technology know how, and Pega for their adaptive and robust DPA solutions, Samsung Nexledger Universal has been able to address some as yet unresolved challenges inherent in operating in the global marketplace, especially around warranty, authenticity, recovery and customer satisfaction.”

Disclaimer: The presented information is subjected to market conditions and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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Finablr and Samsung’s new partnership aims to pave the future of cross border transactions

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Partnerships and tie-ups have been the norm of cryptocurrency companies for some time now because of the realization within the industry that collaboration allows more mainstream adoption. This mantra was again evidenced when cross border payments giant, Finablr announced that they had partnered with tech behemoth Samsung.

The official release from Finablr stated:

“Finablr PLC, a global platform for payments, and Samsung Electronics America today introduced the Money Transfer feature in Samsung Pay. This new in-app international money transfer service, a first of its kind in the U.S., offers users seamless and secure cross-border payments to 47 countries through a variety of payout methods, all within Samsung’s native mobile wallet.”

The team-up aims to use Samsung’s tech prowess combined with Finablr’s cross border experience to make it easier for users to conduct transactions seamlessly. Finablr has promised that with the company’s global reach and distribution capabilities, the customer will have a wide array of options to conduct transactions. These features range from bank deposits to ready cash that can be picked up whenever the customer chooses to.

The focus of the two companies with regards to this partnership can be collated into three categories: convenience, transparency, and security. The new service will give users the option to seamlessly send money to whoever they wish in 47 countries just using the Samsung Pay application and not any other third-party app.

Samsung and Finablr have reiterated on the fact that the transaction fees and exchange rates will be broken down for the users so that there is no conduction and transparency is maintained.

Samsung has also assured users that all the user data will be protected by using the company’s Samsung Knox security protocol and tokenized credentials.

Sang W. Ahn, the Vice President, and Division Head, Content and Services at Samsung Electronics America spoke about the partnership saying:

“Money Transfer is a first step in our vision to evolve Samsung Pay into a platform that makes users’ financial lives more convenient. The range of services in Samsung Pay, developed in close collaboration with industry leaders such as Finablr, positions us to positively impact consumers’ everyday financial experiences.”

Disclaimer: The presented information is subjected to market conditions and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Never miss our daily cryptocurrency news, price analysis, tips, and stories. Join us on Telegram | Twitter or subscribe to our weekly Newsletter.