According to Golden Finance, South Korea's financial research institute said in its latest report that the introduction of cryptocurrency spot ETFs may bring more troubles to the country's economy than benefits. The Korea Institute of Finance (KIF) said in a report last Sunday that allowing (such) products may lead to side effects such as inefficient resource allocation, increased risks related to cryptocurrencies in financial markets, and weakened financial stability. Crypto ETFs may cause the crypto market to intercept a large amount of cash flow from the local financial market, resulting in reduced investment in local industries, which may make local financial markets more vulnerable to crises in the crypto industry, leading to increased distrust of investors in the market and regulators.