Korean $40B assets managing firm plans to invest in Bitcoin

Because of the increasing trend,  Korea Teacher’s Credit Union planned to invest in Bitcoin. 

In this year Bitcoin increased with a high difference and that is attracting non-crypto investors to think about the Bitcoin investment. 

Last week, the United States Securities and Exchange Commission approved the first Bitcoin futures ETF product which is currently in the spotlight of the crypto market. And after the approval of the first ETF product, the price of Bitcoin pumped inherited an all-time high of $67,000. 

Amid increasing demand, a Korean management firm, Korea Teacher’s Credit Union is planning to invest their funds in Bitcoin. 

According to reports, the Union will not take decisions blindly. First of all, they will wait for the first official Bitcoin ETF approval in Korea. And then they will invest in Bitcoin ETFs. Right now, Union is managing more than $40 billion of assets.

There are huge chances that approval of the first Bitcoin ETFs in Korea will take place in the first half of 2022. So it will be the first instance of a pension fund to go with the Bitcoin investment. 

Bitcoin ETF approval by US regulators

At present, two Bitcoin futures ETF products are life, which got approval from the Securities and Exchange Commission of the US this month. After the approval of the first Bitcoin ETF, people are in full faith with the crypto industry. 

But here, Bitcoin spot ETF approval is still far. According to the past statements made by the SEC, Indicates that they may take their actions & decision in November or December. If future delays will take place then surely the Bitcoin spot ETF matter will shift in 2022. 

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