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South Korea’s Democratic Occasion 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 Could 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 secure funding setting in order that younger folks can [build] property and plan for the long run,” Lee mentioned in Korean, based on The Korea Financial Every day.
Ruling Occasion Additionally Guarantees To Again Crypto
Lee additionally mentioned 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, based on a survey carried out by Korea’s Nationwide Barometer Survey.
South Korea’s ruling Individuals Energy Occasion 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 authorised with a number of different US BTC ETFs in January final 12 months.
In keeping with HODL15Capital, the asset supervisor’s US spot BTC ETF has seen 16 days of inflows. That is as a further 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 assume spot bitcoin ETFs would absorb $5bil *complete* 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) Could 7, 2025
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