KB Bank to Launch South Korea’s First Bitcoin, Crypto Fund

• KB Asset Management launches Digital Asset Management Preparatory Committee to preemptively probe integer assets utilizing AI-based concern strategy.
• Outsourced main concern officers (OCIOs) volition beryllium considered, including Fidelity and Grayscale.
• Asset absorption goals are low-correlation to accepted assets, main guaranteed products backed by integer assets, and a integer plus index.

South Korea’s largest bank, KB Bank, announced its Digital Asset Management Preparatory Committee successful a press release Monday.

The committee is simply a preemptive measurement towards the launching of related bitcoin and integer plus products, including exchange-traded funds (ETFs) and derivatives-based products, that volition beryllium determined by AI-based home and overseas marketplace research.

Hong-Gon Kim, KB Asset Management’s pb for the Index Quant absorption part said, “We volition motorboat virtual asset-themed equity funds arsenic soon arsenic possible. We program to clasp a virtual plus league for customers and people periodicals.”

KB intends to motorboat main guaranteed products backed by bitcoin and cryptocurrency with the volition of diversifying distant from accepted plus correlation successful the retirement-pension and OCIO markets, portion besides processing an scale for integer assets.

In discussing the possibilities of outsourced main concern officers, KB mentioned 2 plus managers by sanction that person already entered the integer plus markets. Grayscale, which actively manages over $60 cardinal successful assets and offers the fashionable Grayscale Bitcoin Trust (GBTC), and Fidelity Asset Management, the $11 trillion steadfast that recently launched a bitcoin spot ETF successful Canada, are among the considered managers.

With an OCIO, the plus absorption institution that KB partners with volition run arsenic a third-party wealthiness absorption supplier oregon advisor. Cooperation with funds who person already successfully entered the abstraction allows KB Asset Management to utilize their caller committee and AI-based probe to person a cleanable entranceway into integer assets.

KB Asset Management maintains assets for KB Financial Group by offering divers fiscal products, some connected and off-shore, done accepted investments specified arsenic equities and fixed-income, and alternate investments, making them the largest Korean bank.