According to reports, South Korea’s public pension fund, the Korean Teacher Credit Cooperative (KTCU), is seeking exposure to Bitcoin (Bitcoin) Through an encrypted exchange-traded fund (ETF).
KTCU, one of South Korea’s largest institutional investors, is considering investing in pure Bitcoin ETFs or ETFs linked to Bitcoin in the first half of 2022, local news agency Korea Economic Daily Report on Monday.
According to the report, KTCU is considering investing in a variety of Bitcoin ETF products, including those of South Korean asset management company Mirae Asset Global Investments.company roll out In April 2021, two ETFs tracked the value of Bitcoin futures through their Canadian subsidiary Horizons ETF.
According to reports, a KTCU executive said: “As asset management companies such as Korea Mirae Asset Global Investment have some well-made cryptocurrency-linked ETF products, we plan to invest in ETF products after consultation with domestic asset management companies.”
The official also mentioned the potential investment in Bitcoin ETFs by Global X ETFs, a subsidiary of Mirae Asset. Apply for Bitcoin ETF Cooperated with the US Securities and Exchange Commission in July.
According to reports, KTCU is South Korea’s second largest institutional investor, with US$40.2 billion in assets under management. The pension fund has allocated 40% of its investment to alternative assets, 10% of domestic stocks and 9% of international stocks. KTCU has not yet determined the scale and other details of its potential Bitcoin ETF investment.
The news comes as global pension funds are increasingly interested in accessing cryptocurrencies such as Bitcoin and major companies in the industry.Last week, the Houston Firefighter Relief and Retirement Fund Reportedly purchased $25 million in Bitcoin And Ether (ETH).Ontario Teachers’ Pension Plan Board Participated in a $420 million financing For the major cryptocurrency exchange FTX, the company announced on October 21.