Regulatory breakthrough + Bitcoin surpassing $80,000 — Samsung Bitcoin Futures Active ETF (3135 HK) and Samsung Blockchain Technology ETF (3171 HK) capture opportunities on dual fronts

On May 4, 2026, the cryptocurrency market welcomed a 'dual boost': $Bitcoin (BTC.CC)$ Bitcoin briefly broke through the $80,000 mark for the first time since January this year, and the stablecoin giant $Circle (CRCL.US)$ saw its stock price surge nearly 20% in a single day, $Coinbase (COIN.US)$ rose more than 6%, $Robinhood (HOOD.US)$ and $Strategy (MSTR.US)$ with respective gains of about 4% and 3.7%. Notably, the overall U.S. stock market was soft due to the situation in the Middle East, but the strong performance of crypto stocks against the trend reflects that the market was driven by internal catalysts within the industry — Washington's long-delayed 'Digital Asset Market Clarity Act' (CLARITY Act) finally achieved substantial progress.

CLARITY Act: Resolving Stablecoin Reward Controversies, Clear Legislative Prospects

The core impasse of the CLARITY Act is 'stablecoin rewards': the banking sector fears that 'interest-like' rewards could drain deposits; crypto companies see these rewards as a key driver for attracting users and expanding business.

Last weekend, Senators Thom Tillis and Angela Alsobrooks introduced a compromise: banning rewards 'economically or functionally equivalent to paying interest on bank deposits,' while explicitly allowing activity-based rewards tied to actual usage such as consumption, transfers, and staking.

$Coinbase (COIN.US)$ Previously halted twice due to concerns over overly strict provisions, it has now formally changed its stance. Its Chief Policy Officer, Faryar Shirzad, said: 'The banking industry has secured more restrictions, but we have protected the core — the right of Americans to earn rewards based on real use of crypto platforms.' Considering stablecoins account for approximately 19% of revenue, this concession will have minimal substantive impact on $Coinbase (COIN.US)$ leading exchanges like , yet it clears legislative obstacles that have persisted in Washington for months.

As the deadlock breaks, the Senate Banking Committee is expected to vote on the bill as early as the week of May 11. Predictive market Polymarket has raised the likelihood of the bill being enacted in 2026 to 68%. Once passed, it will become the first law in the U.S. to provide a clear federal regulatory framework for digital assets, potentially guiding more traditional capital into compliant ecosystems.

Samsung Dual Products: 'Primary Track + Secondary Empowerment'

Samsung Asset Management (Hong Kong) offers two complementary ETFs on the Hong Kong Stock Exchange, capturing industry dividends from both underlying assets and ecosystem applications.

$Samsung Bitcoin Futures Active ETF (03135.HK)$—Direct participation in Bitcoin price fluctuations

$Samsung Bitcoin Futures Active ETF (03135.HK)$ Mainly invests in $CME Group (CME.US)$ Bitcoin futures contracts, regulated by both the U.S. Commodity Futures Trading Commission and the Hong Kong Securities and Futures Commission. Listed on the Hong Kong Stock Exchange, it is as convenient to trade as stocks, without the need to open a cryptocurrency exchange account or manage wallets or private keys. The fund employs active management to allow flexibility in investment strategies. When implementing rollover strategies, the professional team considers the liquidity, bid-ask spreads, and rollover spreads of Bitcoin futures contracts. This ETF has been operating for years since its listing in 2023, withstanding multiple bull and bear markets, making it one of the first compliant ETFs for cryptocurrency investments in Hong Kong. As Bitcoin surpasses $80,000 and the regulatory outlook becomes clearer, $Samsung Bitcoin Futures Active ETF (03135.HK)$ provides investors with a convenient tool to participate without holding physical Bitcoin.

3171 HK (Samsung Blockchain Technology ETF) — Positioning in Next-Gen Financial Infrastructure

3135 HK focuses on Bitcoin price fluctuations, while $Samsung Blockchain Technologies ETF (03171.HK)$ targets the grand narrative of blockchain technology. This ETF primarily invests in publicly traded companies worldwide that are actively involved in blockchain development and applications (no less than 70% of net asset value), covering digital asset exchanges (such as $Coinbase (COIN.US)$ 、 $Robinhood (HOOD.US)$ ), mining companies, and equipment providers (such as $MARA Holdings (MARA.US)$ 、 $Riot Platforms (RIOT.US)$ ), companies with large Bitcoin holdings (such as $Strategy (MSTR.US)$ ). With the CLARITY Act clarifying compliance boundaries, the digital asset industry is gradually maturing, with long-term development potential in both technological infrastructure and compliance channels, which are precisely the areas $Samsung Blockchain Technologies ETF (03171.HK)$ focuses on.

The two products form a clear complementarity: $Samsung Bitcoin Futures Active ETF (03135.HK)$ is suitable for investors looking to participate in short- to medium-term Bitcoin price fluctuations; $Samsung Blockchain Technologies ETF (03171.HK)$ is suitable for investors who believe in the long-term logic of blockchain technology and wish to diversify their investments across the entire ecosystem.

Conclusion

From the stabilization of stablecoin disputes, the upcoming CLARITY Act vote, to Bitcoin breaking through the $80,000 mark again, the compliant digital asset ecosystem is gradually taking shape. Samsung Asset Management (Hong Kong) has provided two ETFs on the Hong Kong Stock Exchange—3135 HKand3171 HK, assisting investors in capturing long-term allocation opportunities within the digital asset space from both underlying asset prices and technological ecosystems, all through compliant traditional securities trading methods.

Data and information sources:

[1] Sina Finance (2026/05/05)

Bloomberg, as of May 5, 2026

Samsung Asset Management (Hong Kong), as of May 5, 2026

Important Information

• Investment involves risks. Past performance is not indicative of future results. The price of funds can go up as well as down, and investors may suffer all or significant losses on their investments. Investors should not make any investment decisions based solely on this material.

• The Samsung Bitcoin Futures Active ETF is a sub-fund of Samsung ETF Trust III. Its investment objective is to provide an investment opportunity to economically participate in the value of Bitcoin by primarily investing in near-month Chicago Mercantile Exchange ("CME") Bitcoin futures contracts. The sub-fund will not directly invest in Bitcoin, nor will it receive any Bitcoin from CME Bitcoin futures. There is no guarantee that the sub-fund will achieve its investment objective.

• The Samsung Bitcoin Futures Active ETF is a futures-based actively managed exchange-traded fund that is subject to risks associated with the following: (i) derivatives; (ii) extreme price volatility risks; (iii) potentially high rollover costs for CME Bitcoin futures; and (iv) operational risks related to CME Bitcoin futures (e.g., margin risks and risks of mandatory actions imposed by relevant parties), differing from traditional exchange-traded funds.

• The main risk factors that the Samsung Bitcoin Futures Active ETF may face include general investment risks; active investment management risks; Bitcoin risks (including risks of new innovations, unforeseen risks, price volatility risks, risks related to the limited history of Bitcoin and CME Bitcoin futures, risks of trading in less regulated venues, fraud, market manipulation and security breach risks, changes in the acceptance of Bitcoin, regulatory risks, fork risks, airdrop risks, domino risks, etc.); Bitcoin futures risks (including market risks, liquidity risks, risks related to Bitcoin futures quotas, futures contract rollover risks and contango risks, risks of significant non-correlation between the spot price/current market price of Bitcoin, risks of mandatory actions imposed by relevant parties, price limit risks, leverage risks, risks of exchange clearinghouse insolvency, etc.); new product risks; concentration risks; other currency distribution risks; risks of distributions from capital or effectively from capital; trading risks; risks of different trading hours; risks related to reliance on market makers and liquidity risks; risks of termination. Please note that the above-listed investment risks are not exhaustive. Investors should carefully read the product prospectus, product data summary, and related sales documents before making any investment decision to understand details such as product features, risk factors, and distribution policies.

• The Samsung Blockchain Technology ETF is a fund within the Samsung ETF Trust. Its investment objective is to achieve long-term capital growth by primarily investing in equity securities of companies actively involved in the development and/or use of blockchain technology. However, there is no guarantee that the fund will achieve its investment objective.

• The main risk factors that the Samsung Blockchain Technology ETF may face include general investment risks; active investment management risks; stock market risks; risks associated with companies involved in blockchain technology (including new technology risks, security risks, cyberattack risks, intellectual property risks, regulatory risks, third-party product risks, risks related to dependence on the internet, limited operating history risks, semiconductor industry risks, internet company risks, software industry risks, etc.); risks related to investments in cryptocurrency futures ETFs (including high price volatility, high rollover costs, liquidity and operational risks, etc.); industry concentration risks; risks associated with depository receipts; currency risks; securities lending transaction risks; other currency distribution risks; risks of distributions from capital or effectively from capital; trading risks; risks of trading discrepancies; risks related to reliance on market makers; risks of termination, etc.

• The above fund has been authorized by the Securities and Futures Commission of Hong Kong (SFC). Authorization does not imply official endorsement of the product. This material is for reference only and does not constitute an offer or solicitation to any person to buy, sell, or adopt any investment strategy.

• The Manager may, at its discretion, make cash distributions to unit holders from capital or total income (while charging all or part of the Fund's fees and expenses to the capital or paying them from the capital), thereby increasing distributable income for payment of distributions, which actually amounts to a distribution from capital.

• Distributions paid or effectively paid out of capital amount to a return of part of an investor's original investment or withdrawal of part of the original investment or capital gains attributable to that original investment. Any practice involving distributions being paid out of the capital of the product or effectively paid out of the capital of the product may result in an immediate reduction in the per-unit net asset value.

• This document has been prepared by Samsung Asset Management (Hong Kong) Limited (SAMHK) and has not been reviewed by the Securities and Futures Commission or any other regulatory authority. Investors should determine whether any investment product or strategy is suitable based on their individual financial situation, investment experience, and objectives. If you have any questions regarding the relevant information, you should seek advice from a professional advisor as needed.

• Certain information contained herein is compiled from third-party sources. SAMHK has made efforts to ensure the accuracy, completeness, and timeliness of such information and taken measures to verify and reproduce it accurately. However, SAMHK assumes no responsibility or liability for the accuracy of the data, any use thereof, or reliance on it. This content may contain forward-looking statements based on SAMHK’s opinions, expectations, and projections. SAMHK has no obligation to update or revise any forward-looking statements, and actual results may differ materially from those anticipated in forward-looking statements. All copyrights for the contents of this material (including all information, images, computer codes, text, logos, and designs) are owned by SAMHK. Without SAMHK’s consent, the information provided herein must not be reproduced or redistributed.

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