South Korean Financial Supervisory Service to Approve Digital Asset Fund Next Month
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South Korean Financial Supervisory Service to Approve Digital Asset Fund Next Month

April 30, 2021      Sahaj Sharma

It has been recently revealed that the South Korean Financial Supervisory Service is planning to approve the launch of a digital asset fund in the month of May. As reported by an outlet in South Korea, the local Financial Authority is intending to greenlight the launch of the financial fund that would be enabling the investors to access the exposure to digital assets.

South Korean Financial Supervisory Service Approving Digital Asset Fund

As included in the data shared by the report, the fund is going to be approved on May 2, and in accordance with the sources, it is going to be launched by Hanwha Asset Management.

The Hanwha Asset Management is an investment subsidiary of the big South Korean business corporation. 

However, the source write-up does not reveal which of the digital assets from the market are going to be made accessible for the investors.

As of now, the only plan of the firm is to introduce a financial fund in the market that would be allowing the investors to get exposure to accessing digital assets.

Financial Giants Like JPMorgan And Goldman Sachs to Offer Exposure to Bitcoin

Major financial giants such as JPMorgan and Goldman Sachs in the United States are intending to open investment in Bitcoin for its highest net worth clients later this year.

Earlier, these banks criticized Bitcoin as an asset, as well as for cryptocurrencies overall. Jamie Dimon, the CEO and Chairman of JPMorgan Chase has released several statements in recent times which were not in favour of Bitcoin and other cryptocurrencies.

Dimon referred to Bitcoin as a bubble in the crypto market over several years, and it clearly indicates that the financial giants were not much interested in holding positions in the largest cryptocurrency.

The open investment in Bitcoin by these banking corporations is an indication of worldwide acceptance of Bitcoin.

READ  JPMorgan Believes Bitcoin to Reach $100K While Warning Unsustainable Surge
#Digital Asset Fund #Goldman Sachs #JPMorgan #South Korean Financial Supervisory
Sahaj Sharma
Sahaj Sharma

Sahaj is an aspiring journalist with a keen interest in cryptocurrency and the whole concept of Blockchain technology. He is positive about the future potential of Cryptocurrency and Blockchain in shaping the world of finance for good. At present, he is covering the latest developments in the field of the cryptosphere.