South Korea Frontrunner Vows Bitcoin ETF Approval As BlackRock’s IBIT Logs 16-Day Inflow Streak
South Korea’s Democratic Party Leader, Lee Jae-myung, has vowed to approve spot Bitcoin ETFs (exchange-traded funds) if elected president, as BlackRock’s IBIT ETF notches 16 straight days of net inflows. Along with the promise to approve Bitcoin ETFs, Jae-myung also announced on May 6 that he would back other pro-crypto measures as part of a broader initiative to provide more investment opportunities for Korea’s youth ahead of the June 3 election. “I will create a safe investment environment so that young people can [build] assets and plan for the future,” Lee said in Korean, according to The Korea Economic Daily. Ruling Party Also Promises To Back Crypto Lee also said that he would legalize spot crypto ETFs, lower transaction fees and put more consumer protection measures in place. Lee is the favorite to win the upcoming election with 42% support, according to a survey conducted by Korea’s National Barometer Survey. South Korea...