KB Asset Management in South Korea established a committee to explore investing strategies for the release of digital asset products such as exchange-traded funds (ETFs).
KB Asset Management is a member firm of KB Financial Group, South Korea’s largest financial conglomerate, and its investing arm. KBAM is one of South Korea’s oldest and most reputable managers.
The firm offers investment management services across all major asset classes, as well as a diverse range of investment products that span multiple geographies and cater to the investment needs of a wide range of clients, from retail individual investors to sophisticated institutional investors such as pension funds and life insurance companies.
Richard Kim works for KB Asset Management in Seoul, South Korea as a Senior Manager.
Interesting Tidbits
- When South Korea’s crypto restrictions are eased, the ‘Digital Asset Management Preparatory Committee hopes to be the first to launch digital asset products in the country.
- According to KB, it will develop products such as a digital asset ETF fund and a crypto-themed equity fund.
- KB Asset Management is part of the KB Financial Group, South Korea’s largest financial conglomerate by net earnings.
- South Korean banks are now prohibited from directly offering bitcoin trading services due to local legislation.
- Banks can still provide indirect crypto services through agreements with exchanges or crypto custody services, such as KB Bank’s KODA.
Previously South Korea Interested in Metaverse ETFs
Retail investors have taken an interest in South Korea’s Metaverse ETFs. Companies have made significant investments in metaverse real estate, virtual stores, and live events. In October 2021, four metaverse Exchange Traded Funds were introduced in South Korea, and in less than two weeks, over $90 million was invested in the ETF.
In January, inflows into the 8 ETFs totaled over $1 billion, indicating strong demand for the ETF. The great majority of the assets (nearly $800 million) were invested in four Exchange Traded Funds that specialized in South Korean metaverse stocks. More than $338 million was invested in global metaverse exchange-traded funds (ETF). Retail investors were responsible for more than 70% of the inflows.
In 2021, it was reported that over $7 billion in cryptocurrency was stolen from investors and traders all across the world. More countries, including the United States, are developing regulating frameworks for digital assets.
