An official at the Korea Exchange (KRX) from South Korea’s securities exchange operator believes that the industry should keep a close eye on the developments from the United States regulators regarding Bitcoin exchange-traded funds so this is why in today’s bitcoin news we find out more about what the official stated.
ETFs are capable of tracking assets that are proportionately represented in the shares of the funds. They are believed to have high potential to increase the chances of widespread adoption of cryptocurrency.
The US Securities and Exchange Commission has postponed or rejected its decision on crypto-related ETFs and the KRX official had to say something about that:
“The US has been the front-runner on the cryptocurrency market and related derivatives, and there are strong voices supporting the launch of Bitcoin ETFs within the market — which is why we are observing the progress and response of the US SEC’s decision on Bitcoin ETFs.”
He added that the KRX is considering the provision of a solid Bitcoin index as well which will be required for the launch of such ETFs.
South Korea’s blockchain market has seen the launch of blockchain ETFs by investment banks because of the incredibly lower level of scrutiny they get from the national watchdog.
A professor at Korea University’s Graduate School of Information Security Lee Kyang-ho argued that the health of the blockchain sector in the country could eventually create a path for crypto ETF integration by saying:
“With the government expanding its investment in research and development of blockchain technology, the projects are expected to minimize or eliminate the risk of integrating ETF transactions in the cryptocurrency market.”
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