The Korea Teacher’s Credit Union, which is the largest mutual aid association in South Korea, responsible for approximately 40 trillion won ($34.3 billion) of assets as of June, has denied the market rumors about its investment in Bitcoin ETF.
While Bitcoin ETF news came as a pleasant surprise to the crypto community in the nation, the follow-up denying any such plans has neutralized the current political and financial landscape in lieu of KTCU’s long-standing conservative financial approach. Furthermore, since the country is undergoing a crypto crackdown, an investment in Bitcoin by an organization as traditional as KTCU appeared as a blown out of proportion update.
“The KTCU has never reviewed an investment in a bitcoin-related ETF, and will never have a plan to do so,” KTCU said in a statement.
Earlier today social media was flooded with news of the South Korean Teacher’s Credit Union’s upcoming investment in Bitcoin-backed Spot Exchange-Traded Fund (ETF). The KTCU, whic
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