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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 offer extra funding alternatives for Korea’s youth forward of the June 3 election.
“I’ll create a secure funding surroundings in order that younger individuals can [build] property and plan for the longer term,” Lee mentioned in Korean, in accordance with The Korea Financial Each day.
Ruling Get together 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, in accordance 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 Web 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 keeping with 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 bear in mind when naysayers didn’t suppose spot bitcoin ETFs would absorb $5bil *complete* final yr.
As in *all* spot bitcoin ETFs.
IBIT alone has achieved this in a couple of weeks greater than a yr after launch.
— Nate Geraci (@NateGeraci) Might 7, 2025
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