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Korea: largest mutual aid association plans to invest in Bitcoin ETFs
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The South Korean cryptocurrency market has been going through a tumultuous time in the recent past, with many exchanges having to shut shop due to stringent regulatory measures. This, however, didn’t prove to be a deterrent for mutual funds in the country, looking to dip their toes in the Bitcoin market.
According to local reports earlier today, the Korea Teachers and Staff Mutual Aid Association decided to invest part of the fund’s large AUM in Bitcoin. This is the first instance of a domestic pension fund investing in the cryptocurrency industry.
Incidentally, the Mutual Aid Association also happens to be one of the biggest in South Korea, with over 49 million won under its management at the end of last year.
As per reports, the Association
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