According to Bloomberg, South Korea's Financial Services Commission (FSC) is taking measures to prevent a potential influx of speculative cash into US spot Bitcoin exchange-traded funds (ETFs). This move comes after the US Securities and Exchange Commission approved around a dozen ETFs to directly hold Bitcoin earlier this week. South Koreans are known for their enthusiasm for crypto assets, and a digital assets bill is currently under review.
The FSC plans to further review digital-asset rules as overseas regulation changes. The US spot Bitcoin ETFs, including offerings from BlackRock Inc. and Fidelity Investments, experienced a strong start with $4.6 billion of shares traded during their Wall Street debut on Thursday. Supporters of the ETFs believe they will lead to broader mainstream adoption by everyday investors and further gains in the market.