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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 protected funding setting in order that younger individuals can [build] property and plan for the longer term,” Lee stated in Korean, in keeping with The Korea Financial Day by day.
Ruling Get together Additionally Guarantees To Again Crypto
Lee additionally stated 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 keeping with a survey carried out by Korea’s Nationwide Barometer Survey.
South Korea’s ruling Individuals Energy Get together 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 permitted with a number of different US BTC ETFs in January final yr.
In response to 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 soak up $5bil *whole* 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) Might 7, 2025
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