A South Korean pension fund invests in a Bitcoin ETF

South Korea’s public pension fund, Korean Teachers Credit Union (KTCU), plans to invest in Bitcoin (BTC) through an exchange-traded cryptocurrency fund (ETF).

KTCU, one of the largest institutional investors in South Korea, are considering investing in a Bitcoin-only ETF or Bitcoin-linked ETFs in the first half of 2022The local news agency Korea Economic Daily reported on Monday.

According to the message, KTCU is considering investing in several Bitcoin ETF products, including that of South Korean asset management company Mirae Asset Global InvestmentsIn April 2021, the company launched two ETFs that track the value of Bitcoin futures through its Canadian subsidiary Horizons ETF.

A South Korean pension fund invests in a Bitcoin ETF
A South Korean pension fund invests in a Bitcoin ETF

“As there are some well-made, cryptocurrency-linked ETF products from asset managers like Mirae Asset Global Investments of Korea, we plan to invest in the ETF products after consulting with domestic asset managers.”said a KTCU manager.

The official also mentioned a possible investment in a Bitcoin ETF by Mirae Asset’s subsidiary, Global X ETFs, which filed a Bitcoin ETF with the US Securities and Exchange Commission in July.

According to the message, KTCU is the second largest institutional investor in South Korea with assets under management of $ 40.2 billion. The pension fund has 40% of its investments in alternative investments, 10% in national stocks and 9% in international stocks. KTCU has yet to determine the size and other details of its potential investment in Bitcoin ETFs.

The news comes as global pension funds are increasingly keen to get exposure to cryptocurrencies like bitcoin and the top companies in the industry. the Houston Fire Relief and Retirement Fund would have bought $ 25 million in Bitcoin and Ether (ETH)The Ontario Teachers’ Pension Plan Board of Canada participated in a $ 420 million financing round for the large crypto exchange FTX, the company announced on Thursday.

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