21Shares believes that Asian regulators may soon approve spot Bitcoin ETFs. Following Hong Kong, in particular, regulators from South Korea, Japan and Singapore can do this.

Cryptocurrency holding company ETP#21Sharesresearch fellow Karim Saber suggested that “Asia appears poised to lead the approval of new spot Bitcoin ETFs, given above-average cryptocurrency adoption rates in countries such as South Korea, Japan and Singapore.”

Specifically in South Korea, Saber highlighted the victory in the April elections of a South Korean opposition party friendly to crypto assets.

Meanwhile, Kaiko analysts just today clearly showed why South Korea is important for the crypto market. And why are listings on#Upbitand other crypto exchanges in the country so inflating token prices?

In the first quarter of 2024, the South Korean won surpassed the US dollar in total trading volume on crypto exchanges. According to#Kaiko- $456 billion versus $445 billion.