Bitcoin spot ETF gains popularity globally, but local asset managers stay cautious

IconCrypto News Terminal23 Apr, 2024

cryptonews.jpg

Bitcoin spot ETF gains popularity globally, but local asset managers stay cautious

Despite the increasing popularity of Bitcoin spot-related products globally, domestic asset management companies in Korea remain cautious due to a lack of government policy changes. This is in contrast to overseas markets where such products are actively traded. The Democratic Party of Korea, which won the recent general election, had included in its election pledge a promise to allow the issuance, listing, and trading of BTC spot ETFs. However, it is uncertain whether the party will actively pursue institutional improvements to make this a reality. Global X, the US affiliate of Mirae Asset Global Investments, which operates BTC-related products in Korea, and Samsung Asset Management have both stated that they have no current plans to launch domestic products. Previously on 23 April 2024, "Unlike overseas where Bitcoin spot-related products are actively traded, domestic asset management companies are maintaining a cautious stance due to the lack of changes in government policy, Yonhap Infomax reported."

Related News