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South Korea's top bank launches crypto ETFs
South Korea's largest bank aims to explore and launch crypto ETFs "as soon as possible" The bank said it plans to prepare for the preemptive launch of related products through digital asset market research at home and abroad The asset management arm of South Korea's largest bank announced on Monday the formation of a committee to help investigate and develop crypto derivative products and exchange-traded funds. KB Kookmin Bank's asset management arm said its Digital Asset Management Preparatory Committee will plan preparations for the launch of its crypto products, headquartered at the arm's Index Quant Operation Division. KB hopes to talk about its crypto offerings...
South Korea's top bank launches crypto ETFs
- Südkoreas größte Bank will Krypto-ETFs „so schnell wie möglich“ erkunden und lancieren
- Die Bank sagte, sie plane, sich auf die präventive Einführung verwandter Produkte durch Marktforschung für digitale Vermögenswerte im In- und Ausland vorzubereiten
The asset management arm of South Korea's largest bank announced Monday the formation of a committee to help study and develop crypto derivative products and exchange-traded funds.
KB Kookmin Bank's asset management arm said its Digital Asset Management Preparatory Committee will plan preparations for the launch of its crypto products, headquartered at the arm's Index Quant Operation Division.
KB hopes to enter the fast-moving industry through its crypto offerings “as soon as possible” after “deregulation in Korea,” a rough translation of Statement from the company reads.
Two of South Korea's presidential candidates are reportedly seeking to lift the ban on coin offerings following their potential election victories next month. The hope is that these candidates would enable a more relaxed regulatory environment in a country that imposes strict rules Crypto laws.
The bank said it plans to prepare for the pre-emptive launch of related products through digital asset market research at home and abroad.
In addition to its crypto index funds, KB Asset Management said it will shift from traditional asset correlation in the fixed income and OCIO markets to a guaranteed capital allocation fund with foreign crypto.
“We will launch virtual asset-themed equity funds as soon as possible,” said Hong-Gon Kim, head of index quant management at KB Asset Management. “We plan to host a virtual asset conference for clients and publish magazines.”
KB Kookmin is the country's largest bank by net profit. The bank's holding company, KB Financial Group, recorded total assets under management of 457.3 trillion KRW (US$382.7 billion) as of the fourth quarter of 2021, according to its latest report. Results report.
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South Korea's top bank's post on launching crypto ETFs is not financial advice.