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South Korea Urged to Follow US Lead on Crypto ETFs After Ethereum Approval

The US Securities and Exchange Commission’s approval of spot Ethereum ETFs last week has ignited pressure on South Korea’s financial regulators to greenlight similar crypto exchange-traded funds. Last week’s approval of Ethereum ETFs marked a dramatic reversal for the US market. Up until then, most market participants were expecting a rejection for these ETFs, at least in May. The FSC cited the Capital Markets Act to justify its skepticism towards crypto ETFs. The Act restricts ETFs to underlying assets, which are traditionally real financial assets or securities like international currencies or commodities.

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