Lee Jae-myung, leader of South Korea’s Democratic Party, has pledged to approve spot Bitcoin ETFs if he wins the presidency, coinciding with BlackRock’s IBIT ETF recording 16 consecutive days of net inflows.
On May 6, he also revealed plans to support additional pro-crypto policies as part of a broader effort to expand investment opportunities for young Koreans ahead of the June 3 election. His pro-crypto position serves as part of an initiative focused on enhancing financial prospects for the nation’s younger generation.
As per the local reports, Lee also promised to create a protected investment space that will help young people build wealth and plan ahead during his public address on May 6.
Compound crypto ETFs would get legislation through Lee’s platform, and he planned to lower fees while building stronger consumer defense standards. His fundamental goal is to develop digital assets as a secure financial option that will better serve both Korean investors and new investors who want to build their wealth portfolio.
Public support for Lee reached 42% based on results from the National Barometer Survey, putting him in the lead position before South Korea’s June 3 election. Support for digital asset regulatory changes comes from both the ruling People Power Party and opposition parties in South Korea, demonstrating bipartisan unity for developing the country’s crypto industry.
Approval of ETFs sits in line with worldwide patterns where US investors keep investing in Bitcoin spot ETFs. Since its early 2024 launch, the iShare Bitcoin Trust (IBIT) from BlackRock has received continuous net inflows for 16 straight days.
The fund tracked by HODL 15Capital added 280 more Bitcoins to its holdings during the previous day alone. The IBIT fund continues to see outstanding growth, according to the ETF Store’s President, Nate Geraci, as fresh capital reaches nearly $5 billion.
Lee Jae-Myung’s bold backing of spot Bitcoin ETFs could mark a turning point for South Korea’s crypto future. With global momentum building, his pro-crypto vision aims to empower a new generation of investors and position the nation at the forefront of digital finance.
Also read: South Korea’s PPP Pushes Bitcoin ETF Legislation Ahead of June 3 Elections
