South Korean companies with crypto-related interests listed on the KOSDAQ stock exchange experienced significant gains following the news of the US Securities and Exchange Commission’s approval of 11 Bitcoin spot exchange-traded funds (ETFs). Although no South Korean crypto firms have yet gone public on the Korean Exchange, venture capital firms that have invested in major South Korean crypto exchanges emerged as the biggest winners in the market. Woori Technology Investment saw its stock price surge nearly 30% to a 12-month high, while Hanwha Investment & Securities recorded a 30% day-on-day increase in share price. Both firms hold shares in Dunamu, the operator of Upbit, South Korea’s largest virtual currency exchange. Another investor in a crypto exchange, T Scientific, witnessed a more than 20% rise in stock price on the same day, with its parent company Wizit experiencing a 29.89% increase. Other blockchain and crypto-related companies such as Daesung Private Equity and Atinum Investment also saw their stock prices rise. The gains in these stocks reflect the positive impact of Bitcoin ETF approval on South Korea’s stock market.
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South Korean Crypto-related KOSDAQ Stocks Soar on Bitcoin ETF News
