ChainCatcher news, according to Cryptonews, South Korean media outlet "Daily Kyungjae" reported that South Korean regulators are closely monitoring developments in Japan before making a decision on cryptocurrency spot ETFs. This means that if Japanese regulators approve a Bitcoin ETF application, South Korean regulators may also follow suit.The Japanese Financial Services Commission (FSC) has been discussing the approval of Bitcoin ETFs since the end of last year. However, the agency has repeatedly shown a lukewarm attitude towards cryptocurrencies, especially Bitcoin ETFs. As a result, South Korean financial authorities "have also begun to react." According to the media report, another top regulatory body in South Korea, the Financial Supervisory Service, has reviewed the cryptocurrency policies of Japan's Financial Services Agency (FSA) and "shared its findings with relevant organizations in Seoul."Major Japanese media outlets, including the Nikkei, reported that the Financial Services Agency is considering reclassifying cryptocurrencies as investment tools and is also "considering" approving Bitcoin and altcoin ETFs. South Korean regulators believe that the silence of the Financial Services Agency on this matter adds credibility to the reports from the Nikkei.

ChainCatcher news, according to a report by Yonhap Infomax, Seoul Mayor Oh Se-hoon expressed support for cryptocurrency ETFs and Security Token Offerings (STOs). In a post on Facebook, Oh stated that South Korea should establish a regulatory framework that integrates virtual assets with the real economy, similar to the models in the United States and Europe.He emphasized the importance of establishing foundational legislation for virtual assets, which would enable cryptocurrency ETFs, corporate cryptocurrency trading, and STOs, and pointed out that these practices have been widely accepted in leading countries.

ChainCatcher news, according to the Financial Times, based on predictions from State Street, the world's largest ETF service provider, the demand for cryptocurrency ETFs is surging, and it is expected that by the end of this year, their total assets will surpass North American precious metals ETFs. This change will make digital token ETFs the third largest asset class in the $15 trillion ETF industry, following stocks and bonds, surpassing real estate, alternative investments, and multi-asset funds.Frank Koudelka, head of State Street's global ETF solutions, stated, "The growth rate of cryptocurrencies has surprised us. I expected there would be pent-up demand, but I didn't expect it to be this strong." He anticipates that cryptocurrency ETFs will continue to grow rapidly this year and points out that data shows an increasing number of investment advisors are interested in cryptocurrencies and incorporating them into their portfolios. Precious metals ETFs have a 20-year first-mover advantage, with the world's first physically-backed gold ETF—the $85 billion SPDR Gold Trust (GLD)—launched in 2004, and it remains the largest precious metals ETF to date. However, State Street expects that the total assets of North American precious metals ETFs, currently at $165 billion, will be surpassed by cryptocurrency ETFs this year.State Street also predicts that the U.S. Securities and Exchange Commission (SEC) will approve more digital asset ETFs this year. In addition to the existing Bitcoin and Ethereum ETFs, fund management companies have applied to launch ETFs based on various tokens such as SOL, XRP, and others. State Street expects that by 2025, ETFs based on the top ten tokens by market capitalization will be approved.

ChainCatcher news, Bloomberg ETF analyst Eric Balchunas stated that the progress of several cryptocurrency ETF applications in the market varies, describing that "most ETFs are still running to first base, while the Litecoin (LTC) ETF is nearing third base."This comment was made in response to a user's question about the approval timeline for crypto ETFs, indicating that the LTC ETF may be progressing the fastest among numerous applications, while other ETFs (such as XRP, SOL, DOGE, etc.) are still in the early review stages.Earlier this week, it was reported that analysts predicted the approval probabilities for LTC, DOGE, SOL, and XRP spot ETFs, with LTC reaching as high as 90%.

ChainCatcher news, the chairman of the Korean exchange, Jung Eun-bo, once again called for the listing of cryptocurrency ETFs in South Korea, emphasizing the need to keep pace with global financial markets. In a recent interview in Seoul, he stated, "South Korea's real cryptocurrency trading volume ranks third in the world. Cryptocurrency is a field that can create new value in the financial industry." He added, "The U.S. has listed cryptocurrency futures and spot ETFs that are actively traded. We need to allow cryptocurrency ETF trading immediately."As he made these remarks, the Korean stock market is facing a declining investor base and structural issues such as excessive fragmentation and "zombie companies." He clearly stated that strengthening market regulation and increasing transparency are top priorities, with broader strategies including promoting corporate value enhancement plans, protecting minority shareholders, and accelerating the delisting of non-viable companies.Regarding cryptocurrency ETFs, he believes that their introduction will increase the depth of the financial market and provide investors with more regulated digital asset investment options.

ChainCatcher News, SEC Commissioner Hester Peirce introduced the tasks and goals of the newly established crypto working group, stating that the current 10 tasks of the working group include:Examining the status of different types of crypto assets under securities law,Helping to identify areas that fall outside the commission's jurisdiction,Considering recommending the commission take action to provide temporary forward-looking and retroactive relief for tokens or token offerings that provide certain specific information for issuing entities or other willing responsible entities,Suggesting the commission amend existing registration pathways,Exploring potential updates to no-action letters for special purpose broker-dealers,Collaborating with investment advisors to provide an appropriate regulatory framework,Clarifying whether securities law covers crypto lending and staking programs,Providing clear statements on the methods for approving or disapproving crypto ETFs,Planning to work at the intersection of cryptocurrency and clearinghouse and transfer agent rules,Promoting methods for cross-border sandboxes for crypto projects.

ChainCatcher news regarding the SEC's approval of Bitwise's Bitcoin and Ethereum combo ETF. Bloomberg's senior ETF analyst Eric Balchunas posted an analysis on the X platform, stating that the U.S. Securities and Exchange Commission's move was expected, and even Gary Gensler would approve the Bitwise Bitcoin and Ethereum ETF.This move can be interpreted as the SEC accelerating the approval process for cryptocurrency ETFs, with the next likely being a Litecoin ETF, and more information may be available soon.

ChainCatcher news, according to CoinDesk, Nomura Holdings' digital asset subsidiary Laser Digital has released a report stating that the United States may approve more than 12 new cryptocurrency ETFs by 2025.Currently, several asset management firms have submitted applications to the SEC, including ProShares' Bitcoin-priced S&P 500 ETF, a Bitcoin/Ethereum combination ETF, and products based on Litecoin, XRP, and Solana. The report notes that under the leadership of the new SEC Chairman Paul Atkins, the cryptocurrency regulatory environment is expected to become more lenient.

ChainCatcher news, according to Bloomberg, if confirmed by the Senate, Scott Bessent, the U.S. Treasury Secretary chosen by President-elect Donald Trump, will resign from his position at Key Square Group and sell his stake in the partnership to avoid conflicts of interest.Scott Bessent disclosed assets worth at least $521 million in his personal financial disclosure, listing nine top-tier assets, all linked to his hedge fund. These include two batches of U.S. Treasury bonds, two Invesco funds, and open positions in foreign currency exchange rates. He also listed a personal investment of no more than $500,000, which is linked to the price of Bitcoin through an iShares exchange-traded fund. Like the assets he holds through Key Square Capital, Bessent will divest from the cryptocurrency-based ETF. According to his disclosure, Key Square Group will close at the end of March.Some of Scott Bessent's potential conflicts of interest will take longer to resolve. He has invested at least $250,000 in three funds that allow him to withdraw no more than 25% of his holdings each quarter. He will not be able to fully withdraw his holdings until the end of September, which is much longer than the usual 90-day disclosure window. Scott Bessent stated that he will avoid specific decisions that could have a predictable impact on stock values. Scott Bessent also listed residential real estate in the Bahamas valued at at least $5 million, as well as a collection of art and antiques worth at least $1 million.