Korea Teacher’s Credit Union is planning to invest in bitcoin

Oct 25, 2021 | The Block News | 0 comments

The Korea Teacher’s Credit Union, which manages $40 billion in assets, plans to start investing in bitcoin next year, according to The Korea Economic Daily.

The credit union won’t be buying bitcoin directly but getting exposure to it via investment products, such as bitcoin ETFs. The plan is to start doing so when the first Korean-based company launches a bitcoin ETF in the first half of 2022.

This will be the first instance of a pension fund in the country investing in bitcoin.

This comes shortly after the first bitcoin ETF was approved in the U.S., with two now live on the market. Currently both of them are based on bitcoin futures, rather than spot trading.

H/T to @iamjosephyoung and @cryptounfolded for highlighting this story.

© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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