South Korea's largest commercial bank Kookmin Bank to launch crypto investment fund

South Korea’s largest commercial bank, Kookmin Bank, plans to launch the country’s first crypto investment product for retail investors, the bank announced the formation of a digital asset management committee aimed at launching a crypto exchange-traded fund as soon as the country’s regulations allow (ETFs) and related products.

Hong-Gom Kim, head of index quantitative management at Kookmin Bank, said: "We will launch a virtual asset-themed equity fund as soon as possible, and plan to hold virtual asset conferences and publish journals for clients."

In addition to the crypto index development fund, the bank said it is also looking into the possibility of a hybrid fund that combines cryptocurrencies with traditional assets.