Investments

$40 billion Korean pension fund eyes Bitcoin-related investments By BTC Friends


© Reuters. $40 billion Korean pension fund eyes Bitcoin-related investments

One of many largest pension funds in South Korea, the Korea Instructor’s Credit score Union (KTCU), is planning to spend money on through exchange-traded funds (ETFs) subsequent yr.

The general public pension fund manages $40 billion in property and was set as much as present retirement advantages for South Korean lecturers.

As already talked about, the KTC won’t immediately buy Bitcoin. As an alternative, it would achieve publicity via merchandise similar to Bitcoin ETFs. Based on a report from the Korea Financial Each day, the fund will begin investing in Bitcoin in 2022 when the primary Korea-based agency debuts its Bitcoin ETF within the first half of subsequent yr.

This marks the primary time a South Korean home pension fund can be publicly allocating capital into cryptocurrency-related merchandise. The choice relies on the judgment that cryptocurrencies are lastly changing into a mainstream funding choice. The KTCU opines that as extra Bitcoin-related ETFs are starting to spring up, there’s a shift within the notion of Bitcoin in the direction of being a clear and supervisable funding.

The announcement comes on the heels of the launch of the primary Bitcoin ETF on US soil, with two merchandise tied to Bitcoin futures now stay available on the market.

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