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HomeCrypto NewsMarketSouth Korea Bank Launching Country First Cryptocurrency ETF

South Korea Bank Launching Country First Cryptocurrency ETF


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South Korean Kookmin Bank announced plans to launch the country’s first cryptocurrency exchange-traded fund (ETF) to provide customers with the opportunity to invest in digital assets.

Kookmin Bank announced a specialized division of the bank, the Digital Asset Management Committee, to develop the cryptocurrency investment instruments and the bank’s strategy for digital assets.

In addition, the scope of activities of the new division will include the assessment of potential risks and verification of the compliance of investment products according to country laws.

The bank plans to launch cryptocurrency ETFs and futures products shortly. If the project is successful, Kookmin Bank will become the first South Korean bank to offer retail investors the opportunity to invest in crypto assets.

Kim Hong-gun, Director of the Kookmin Bank Structural Unit, said:

“We plan to launch a cryptocurrency ETF as soon as possible. In addition, a conference on virtual assets for our clients is coming along with the publication of magazines guiding about blockchain technology.”

Also, options are being considered by Kookmin Bank to prepare a comprehensive plan for the use of virtual assets in the pension savings and insurance market.

The bank is considering crypto products after international consulting company Boston Consulting Group (BCG) published its report on the stable and rapid growth of the cryptocurrency market in South Korea. According to the report, by 2026, the volume of the cryptocurrency market in the country will reach 1,000 trillion won (about $835 billion).

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.



Ammara Mubin is a cryptocurrency reporter and trader with vast experience in the industry. Mubin has written several news stories related to the crypto industry, including non-fungible tokens (NFTs), decentralized finance (DeFi), fundraising, mining, etc. Her major focus is covering regulatory events that are capable of shaping the entire crypto ecosystem.

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