South Korean pension fund plans to invest in Bitcoin ETF

South Korean pension fund plans to invest in Bitcoin ETF


The Korean Teachers’ Credit Union (KTCU), a pension fund of the country, has been reported as looking to gain exposure to Bitcoin (BTC) through a crypto exchange-traded fund (ETF).


One of the largest institutional investors in South Korea, the KTCU, has expressed it is considering to invest in a pure Bitcoin ETF or Bitcoin-linked ETFs during the first quarter of 2022, as per a news report from a local news agency, The Korea Economic Daily.



As per the re[prt, KTCU is considering to invest in multiple Bitcoin ETF products, including those by the Korean asset management firm Mirae Asset Global Investments. 


In April 2021, the company had launched two ETFs that are tracking the value of Bitcoin futures via its Canadian subsidiary Horizons ETFs.



A KTCU executive has said that there is a list of “well-made crypto linked ETF products” as from “Mirae Asset Global Investments,” therefore, the firm intends to invest in the ETF products once it has consulted with domestic asset managers.



The official has also mentioned potential investment in a Bitcoin ETF, Global X ETFs, which is a Mirae Asset’s subsidiary. In July, it had filed for a Bitcoin ETF with the United States Securities and Exchange Commission.



KTCU is South Korea’s second-largest institutional investor having $40.2 billion in assets under management. The pension fund has allocated 40 per cent of its investments in alternative assets, 10 per cent in domestic and 9 per cent in international stocks. 



As per the news agency’s report, KTCU is yet to determine the other details, including the size of its potential Bitcoin ETF investment.



The news has come when global pension funds are getting increasingly interested in gaining exposure to crypto like Bitcoin and others in the emerging industry. The Houston Firefighters’ Relief and Retirement Fund, last week, had reportedly purchased $25 million in Bitcoin and Ether (ETH). 



Similarly, as per the firm’s announcement on October 24, Canada’s Ontario Teachers’ Pension Plan Board had participated in a $420 million funding round for the major crypto exchange, FTX.

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