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South Korea Frontrunner Vows To Approve BTC ETFs, IBIT Booms

8 May 2025
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South Korea’s Democratic Get together Chief, 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 internet inflows. 

Together with the promise to approve Bitcoin ETFs, Jae-myung additionally introduced on Might 6 that he would again different pro-crypto measures as a part of a broader initiative to supply extra funding alternatives for Korea’s youth forward of the June 3 election.

“I’ll create a protected funding surroundings in order that younger folks can [build] property and plan for the longer term,” Lee stated in Korean, in keeping with The Korea Financial Every day.

South Korea Bitcoin

Ruling Get together Additionally Guarantees To Again Crypto

Lee additionally stated that he would legalize spot crypto ETFs, decrease transaction charges and put extra shopper safety measures in place. 

Lee is the favourite to win the upcoming election with 42% help, in keeping with a survey performed by Korea’s Nationwide Barometer Survey.

South Korea’s ruling Folks Energy Get together has additionally promised to again crypto. 

BlackRock’s Bitcoin ETF Having fun with A Internet Influx Streak

Whereas political events in South Korea promise to approve Bitcoin ETFs, US traders are piling into BlackRock’s IBIT fund that was permitted with a number of different US BTC ETFs in January final 12 months.

In response to HODL15Capital, the asset supervisor’s US spot BTC ETF has seen 16 days of inflows. That is as an extra 280 Bitcoin was added to the fund simply yesterday. 

ETF Retailer President Nate Geraci additionally noticed the influx streak, and famous that the fund was approaching $5 billion in new capital.

*16* day influx streak for iShares Bitcoin ETF…

Approaching $5bil in new $$$.

I keep in mind when naysayers didn’t suppose spot bitcoin ETFs would absorb $5bil *whole* final yr.

As in *all* spot bitcoin ETFs.

IBIT alone has achieved this in a number of weeks greater than a yr after launch.

— Nate Geraci (@NateGeraci) Might 7, 2025

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Tags: approveboomsBTCETFsFrontrunnerIBITKoreaSouthVows
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