Domestic flights ‘outside the scope of the license’ not permitted
Even virtual asset ETFs are suspended.
On the 11th (local time), the first time in history that the Bitcoin spot exchange-traded fund (ETF) was traded, $4.6 billion (approximately 6.06 trillion won) was traded on the U.S. stock market.
According to Reuters, as the U.S. Securities and Exchange Commission (SEC) approved the listing of Bitcoin spot ETF, 11 products began trading at once on this day. Among the 11 products, Grayscale ETF had the highest trading volume at $2,326.18 million. It far exceeded the estimated trading volume of ‘SPDR Gold Shares’, the world’s largest gold spot ETF listed on the U.S. stock market, today ($1.23 billion).
As ETF trading began, the Bitcoin price hit $49,000 during the day, the highest level in two years since December 2021, and then retreated to the $46,000 level as of 5:30 pm Eastern time. Due to expectations of virtual assets being incorporated into the system, the price of Ethereum, which has the second largest market capitalization after Bitcoin, soared by more than 10% during the day. Cathy Wood, CEO of Arc Investment, also known as the ‘Money Tree Sister’, said on CNBC that day, “(Bitcoin) could reach $1.5 million (approximately 2 billion won) by 2030 in an optimistic scenario.” said.
On the other hand, in Korea, the Financial Services Commission decided not to allow trading in Bitcoin spot ETFs on the grounds that they are outside the scope of investment brokerage product licenses, and even existing virtual asset ETF transactions are being blocked. Some securities companies, such as Mirae Asset Securities, stopped new purchases of Bitcoin spot ETFs listed in Canada and Germany, and some securities companies also suspended futures ETF trading. KB Securities announced on this day, “We will suspend new purchases of Bitcoin futures ETFs until clear guidelines are issued from the financial authorities.”
New York =
Source: Donga
Mark Jones is a world traveler and journalist for News Rebeat. With a curious mind and a love of adventure, Mark brings a unique perspective to the latest global events and provides in-depth and thought-provoking coverage of the world at large.