Korea Teacher’s Credit Union Is Mulling Over Investing In BTC

The Korea Teacher’s Credit Union, which manages around forty billion dollars in assets, is mulling over starting investing in BTC next year, as per The Korea Economic Daily.

The credit union won’t be purchasing BTC directly but getting exposure to it through investment products, such as BTC ETFs. The plan is to commence doing so when the 1st Korea-based organisation launches a bitcoin ETF in the 1st half of next year.

The report mentions that the size and the timeline of the investment remain unclear for now. The teacher’s fund is purportedly waiting for the 1st Bitcoin ETF to commence in South Korea next year.

A Korea Teacher’s Credit Union official asserts that the institution is mulling over consulting with local asset managers prior to making a decision regarding asset allocation.

Last year, the teacher’s credit union scored its best year since 2009, fetching a ten percent investment return that totaled around three billion dollars. Its net profit amounted to a record-breaking eight hundred and forty four million dollars.

The aforementioned development comes shortly after the 1st BTC ETF was given green signal in the United States, with 2 ETFs now live on the bourses. Presently, both of them are based on BTC futures, instead of spot trading. Notably, this will be the 1st instance of a pension fund in the nation investing in Bitcoin.