PANews reported on October 16 that according to (Pioneer Economy), Korea Investment Corporation (KIC), one of the largest institutional investors in South Korea, recently clarified to Congress that its investment in US stocks such as Coinbase and MicroStrategy is not intended to directly engage in virtual assets. These investments are part of KIC's strategy to follow the benchmark index. Coinbase was added to the unhedged version of the MSCI ACWI ex-Korea Index in December 2021, and MicroStrategy was also added in June this year. KIC's investment in these companies is proportional to their weights in the index.