South Korean pension fund to spend money on Bitcoin ETF: Report



South Korea’s public pension fund, the Korean Teachers’ Credit Union (KTCU), is reportedly having a look to realize publicity to Bitcoin (BTC) by the use of a Crypto exchange-traded fund (ETF).

KTCU, some of the biggest institutional buyers in South Korea, is thinking about making an investment in a natural Bitcoin ETF or Bitcoin-linked ETFs within the first part of 2022, native information company The Korea Economic Daily reported Monday.

According to the record, KTCU is thinking about making an investment in different Bitcoin ETF merchandise, together with the ones via South Korean asset control company Mirae Asset Global Investments. The corporate introduced two ETFs monitoring the worth of Bitcoin futures by the use of its Canadian subsidiary Horizons ETFs in April 2021.

“As there are some well-made cryptocurrency-linked ETF merchandise via asset managers corresponding to Korea’s Mirae Asset Global Investments, we plan to spend money on the ETF merchandise after session with home asset managers,” an government at KTCU reportedly stated.

The legit additionally discussed possible funding in a Bitcoin ETF via Mirae Asset’s subsidiary, Global X ETFs, which filed for a Bitcoin ETF with the United States Securities and Exchange Commission in July.

According to the record, KTCU is the second-largest institutional investor in South Korea, with $40.2 billion in belongings underneath control. The pension fund has allotted 40% of its investments in choice belongings, 10% home and 9% world shares. KTCU has but to resolve the scale and different main points of its possible Bitcoin ETF funding.

Related: Why now? SEC took 8 years to authorize a Bitcoin ETF in the United States

The information comes amid international pension budget getting increasingly more concerned with gaining publicity to cryptocurrencies like Bitcoin and main corporations within the trade. Last week, the Houston Firefighters’ Relief and Retirement Fund reportedly bought $25 million in Bitcoin and Ether (ETH). Canada’s Ontario Teachers’ Pension Plan Board participated in a $420 million investment spherical for main Crypto change, FTX, the company introduced Oct. 21.

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