South Korea Frontrunner Vows To Approve BTC ETFs, IBIT Booms

Post author:admin
Post published:May 8, 2025
Post category:Blockchain

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South Korea’s Democratic Party Leader, 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 net inflows.

Along with the promise to approve Bitcoin ETFs, Jae-myung also announced on May 6 that he would back other pro-crypto measures as part of a broader initiative to provide more investment opportunities for Korea’s youth ahead of the June 3 election.

“I will create a safe investment environment so that young people can [build] assets and plan for the future,” Lee said in Korean, according to The Korea Economic Daily.

Ruling Party Also Promises To Back Crypto

Lee also said that he would legalize spot crypto ETFs, lower transaction fees and put more consumer protection measures in place.

Lee is the favorite to win the upcoming election with 42% support, according to a survey conducted by Korea’s National Barometer Survey.

South Korea’s ruling People Power Party has also promised to back crypto.

BlackRock’s Bitcoin ETF Enjoying A Net Inflow Streak

While political parties in South Korea promise to approve Bitcoin ETFs, US investors are piling into BlackRock’s IBIT fund that was approved with multiple other US BTC ETFs in January last year.

According to HODL15Capital, the asset manager’s US spot BTC ETF has seen 16 days of inflows. This is as an additional 280 Bitcoin was added to the fund just yesterday.

ETF Store President Nate Geraci also observed the inflow streak, and noted that the fund was approaching $5 billion in new capital.

*16* day inflow streak for iShares Bitcoin ETF…

Approaching $5bil in new $$$.

I remember when naysayers didn’t think spot bitcoin ETFs would take in $5bil *total* last yr.

As in *all* spot bitcoin ETFs.

IBIT alone has done this in a few weeks more than a yr after launch.

— Nate Geraci (@NateGeraci) May 7, 2025