TL;DR Breakdown
• Retired South Korean teachers will invest 9 percent of their money in Bitcoin ETF.
• South Korean government could accept Bitcoin ETF by 2022.
Recently a lending group of professors in South Korea showed their appreciation towards crypto trading by planning to participate in the first Bitcoin ETF. With over 40 billion dollars of money stored, this group would mark a milestone in South Korea after investing their pension assets in exchange-traded funds.
Korea has become a strong country when it comes to crypto adoptions. The government has regularized them and allowed their free trade. According to reports, this group of academic professionals seeks the approval of the first Bitcoin ETF approved by national regulators.
Mirae Asset is behind South Korea’s debt bitcoin ETF
Cryptocurrencies have shown only one thing after more than a decade in operation: they have the potential for traditional investments or exchange-traded funds. Many entrepreneurs have realized that Bitcoin ETF is a golden opportunity to earn money in exchange for a passive investment. In the United States, they lean towards these ideals, so investments in Bitcoin ETF are going for a second round.
South Korea wants to join this new investment system guided by the crypto company Mirae Asset. This financial firm is listed on BITI-TO, supporting the teachers of the KTCU group who want to join the financial plan.
So far, retiree funds at KTCU have sent over 40 percent of their Altcoins holdings. 9 percent of this money was invested in stocks abroad and another 10 percent in stocks within South Korea. According to reports, this investment outside the country would be destined for the Bitcoin ETF currently trending.
First Bitcoin ETF in North America a success
The enthusiasm of the professors in South Korea about the Bitcoin ETF is because of the United States’ success in its first round. ProShares was the finance company that led the first Bitcoin futures exchange-traded fund event since NYSE Arca. The SEC approved this sell-off in ETFs, which are the main regulators of cryptos in North America.
According to the results, this first round of ProShares ETF ended with dozens of petitions among private firms and enthusiastic investors towards cryptos. The event brought many gains for those involved, besides the rise in the Bitcoin price at $ 66,000.
For teachers in South Korea, this low-risk investment seems like a great idea. Which Regulators in Asia are expected to let the first Bitcoin ETF be listed where professors and other South Korean enthusiasts can participate. Mirae Asset may announce that the Bitcoin ETF has been approved in the coming weeks.
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