South Korea’s leading financial institution, Kookmin Bank (KB), plans to launch the country’s first crypto-asset ETF.
Crypto ETF products continue to spread, and a move in this area came from South Korea. KB, one of the country’s leading banks, plans to launch a crypto ETF. According to the company’s statement, the bank has also established a unit called the “Digital Asset Management Preparatory Committee” to work towards this goal. Honggun Kim, head of index management, also confirmed the news:
“A virtual asset-themed equity fund etc. we will start. We plan to publish periodicals as well.”
As it is known, countries such as Canada and Brazil broke new ground in their regions by issuing crypto ETFs. Similarly, the US has joined the list of countries that have launched a crypto ETF by launching a futures Bitcoin ETF, although it is not a product that directly invests in Bitcoin.
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