Monday, December 4, 2023

Korea Teacher’s Credit Union to invest in Bitcoins

As Bitcoin ETFs hit the market, more and more institutional investors are showing interest in crypto investments. Since Bitcoin ETFs do not entail manually buying and selling bitcoins, they are becoming the preferred investment vehicle for institutional investors. The latest big name to show interest in Bitcoin ETFs is South Korea’s Korea Teacher’s Credit Union (KTCU). It is the second-biggest institutional investor in the country.

The first Bitcoin ETF would probably be launched in Korea by the 2nd quarter of 2022.

As of now, no other pension scheme in South Korea invests in Bitcoin. The KTCU would be the first retirement fund to do so, though their scale of investment is not clear.

Officials from KTCU said that they would consult with many Korean asset management companies before investing heavily in Bitcoin ETFs. Experts predict that their choice of asset management firm would be Korea’s Mirae Asset Global Investments. Mirae Asset Global Investments already have crypto-backed ETF products in the line.

Presently, KTCU’s investment portfolio is quite diversified. They invest 10% of the fund in domestic markets, 9% in international shares, and 40% in alternative assets. If the KTCU invests a significant amount in Bitcoin ETFs, the fund will get a new avenue of diversification.

The decision to invest pension funds into crypto is quite new. However, it is also gaining steady momentum. As more institutional investors step into the crypto world, the numbers are set to rise. We might see crypto becoming the primary investment vehicle of pension funds.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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