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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 web 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 atmosphere in order that younger folks can [build] property and plan for the long run,” Lee mentioned in Korean, in line with The Korea Financial Day by 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% assist, in line 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 buyers are piling into BlackRock’s IBIT fund that was accredited with a number of different US BTC ETFs in January final yr.
In accordance 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 bear 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 executed this in a couple of weeks greater than a yr after launch.
— Nate Geraci (@NateGeraci) Might 7, 2025
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