Cryptocurrency News & Updates

KB Bank to Launch South Korea’s First Bitcoin, Crypto Fund

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  • KB Asset Management launches Digital Asset Management Preparatory Committee to preemptively research digital assets utilizing AI-based investment strategy.
  • Outsourced chief investment officers (OCIOs) will be considered, including Fidelity and Grayscale.
  • Asset management goals are low-correlation to traditional assets, principal guaranteed products backed by digital assets, and a digital asset index.

South Korea’s largest bank, KB Bank, announced its Digital Asset Management Preparatory Committee in a press release Monday.

The committee is a preemptive step towards the launching of related bitcoin and digital asset products, including exchange-traded funds (ETFs) and derivatives-based products, that will be determined by AI-based domestic and foreign market research.

Hong-Gon Kim, KB Asset Management’s lead for the Index Quant management division said, “We will launch virtual asset-themed equity funds as soon as possible. We plan to hold a virtual asset conference for customers and publish periodicals.”

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