The governor of South Korea's Financial Supervisory Service (FSS), Lee Bok-hyun, announced on Tuesday the authorities of the country are currently discussing the possibility of allowing sales of spot Bitcoin ETFs, Reuters reported on 5 March.
According to him, this is an internal discussion.
In January, South Korea's financial authorities stated they did not plan on regulating sales of Bitcoin futures ETFs, but noted brokerage sales of spot Bitcoin ETFs may be in violation of the country's Capital Markets Act due to concerns over whether Bitcoin qualifies as an underlying asset.
The US Securities and Exchange Commission (SEC) approved in January 11 applications to launch Bitcoin-based exchange traded funds (ETFs). In particular, the approved applications were from Bitwise, Grayscale, Hashdex, BlackRock, Valkyrie, BZX, Invesco, VanEck, WisdomTree, Fidelity and Franklin Templeton.