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As the global digital assets market continues its bullish run, South Korean watchdogs make moves in crypto-linked <a href="https://news.todayq.com/options-on-spot-bitcoin-etf-coming-next-grayscale-makes-move/" rel="noopener noreferrer nofollow">exchange-traded funds</a> (ETFs). This development comes in when Bitcoin (BTC) just breached the $68,000 price level nearing a new all time high (ATH). South Korea to approve Bitcoin ETF? 
Reports suggest that South Korean authorities are discussing the possibility of allowing sales of spot Bitcoin ETFs in the country. Lee Bok-hyun, governor of the Financial Supervisory Service, mentioned that discussions are ongoing internally with positive and wary opinions among authorities.
In January, S. Korea’s financial regulators stated they did not plan to regulate bitcoin futures ETFs. Meanwhile, it raised concerns about brokerage sales of spot bitcoin ETFs. The authorities questioned whether BTC qualifies as an underlying asset.&nbsp;
As reported highlighted public input on virtual assets and regulatory control is expected in the second half of the year.
However, the US Securities and Exchange Commission (SEC) gave a major approval over the trading of Bitcoin ETFs in the country. This decision has led to a huge BTC rally. Bitcoin price is up by 55% over the last 30 days. SEC delays decision on BlackRock’s spot Ethereum ETF 
The biggest crypto reached a two-year peak by surpassing $68,600 on Tuesday approaching its all-time high. BTC gained 50% year-to-date with positive momentum in recent weeks fueled by increased inflows into US listed ETFs.
BTC is trading at an average price of $66,501, at the press time. Its 24 hour trading volume is up by 113% to stand at $78.2 billion. With a jump of more than 17% in the last 7 days, the Bitcoin market cap now stands at around $1.3 trillion.
Net flows into the 10 largest sport BTC ETF totaled $2.17 billion in the week to March 1. However, over half of it was directed to BlackRock’s iShares Bitcoin Trust. Experts anticipate further upside potential, with Bitcoin moving towards $80,000.
After a positive decision by the US SEC over Bitcoin ETF, the watchdog has delayed its decision on BlackRock’s application for a spot Ethereum ETF. The regulatory filing indicates a further delay in the decision making process.
On the market side, Tether, the biggest stablecoin issuer, in the recent surge surpassed the $100 billion market cap. This shows that USDT is getting ready for investors to pour their money into the market.
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South Korea in talks for Bitcoin ETFs as BTC clears $68K

Todayq News

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