South Korea's Democratic Party leader Lee Jae-myung has expressed intentions to approve spot Bitcoin ETFs as part of his election campaign.
Lee Jae-myung’s Promise on Spot Bitcoin ETFs
Lee Jae-myung has promised to approve spot Bitcoin ETFs if he wins the upcoming elections on June 3. He also announced his support for various initiatives aimed at creating a safer investment environment for the youth. "I will create a safe investment environment so that young people can [build] assets and plan for the future," he stated.
Support for Crypto Initiatives from the Ruling Party
In addition to Lee Jae-myung, South Korea's ruling People Power Party has also expressed support for crypto initiatives. Lee stated his intent to legalize spot crypto ETFs, reduce transaction fees, and implement consumer protection measures.
Statistics on Inflows in BlackRock’s Bitcoin ETF
Meanwhile, BlackRock’s IBIT fund continues to attract investments, recording 16 consecutive days of net inflows. Reports indicate that an additional 280 Bitcoin were added to the fund. ETF Store President Nate Geraci noted that the fund is approaching $5 billion in new capital.
Lee Jae-myung's campaign promises underline the growing interest in cryptocurrencies in South Korea, amid increasing inflows into Bitcoin-related assets.
