South Korean Teachers Pension Fund Plans to Invest in Bitcoin ETF

The Korean Teachers’ Credit Union (KTCU), the country’s first pension fund with $40.2 billion in assets under management, is reportedly planning to invest in a Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term exchange-traded fund (ETF). However, according to sources quoted by The Korea Economic Daily, the amount remains undisclosed as of press time.

The fund is looking for the launch of the first Bitcoin (BTC) ETF in South Korea at any point next year: Mirae Asset Global Investment listed BetaPro Inverse Bitcoin ETF. “As there are some well-made cryptocurrency-linked ETF products by asset managers such as Korea’s Mirae Asset Global Investments, we plan to invest in the ETF products after consultation with domestic asset managers,” an official from the KTCU told the media outlet.

As of now, the pension fund has allocated 40% of its investments in alternative assets, 10% in domestic, and 9% in international stocks. According to The Korea Economic Daily, the overseas stock accounts will be used for investing in the Bitcoin-related ETF assets. The decision comes in the wake of the cryptocurrency’s widespread adoption globally, specifically among pension funds, sources told domestic media.

Bitcoin ETFs Hype

Recently, ProShares became the first company in the US to list a Bitcoin futures ETF on NYSE Arca. The listing also turned out to be hit as investors demand poured in quickly. Bitcoin spot ETF applications have been rejected by the US Securities and Exchange Commission (SEC) multiple times over the years. However, the agency’s inclination towards futures-based Bitcoin ETFs was revealed when its Chief Gary Gensler referred to the market as a ‘wild west’ after bashing crypto.

As Finance Magnates reported, though the first Bitcoin futures ETF has been listed on the US Stock Exchange Stock Exchange A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin Read this Term, more than a dozen of spot Bitcoin ETF applications are still pending approval. In fact, since ProShares’ ETF was listed, Grayscale has been seeking a Bitcoin ETF as well.