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International Business Times
International Business Times
Business
Marvie Basilan

South Korea's KODA Sees Crypto Assets Triple Amid Hype Around Spot Bitcoin ETFs

KODA Bitcoin Crypto SEC ETF South Korea Franklin Templeton Gary Gensler
Digital asset deposits in South Korea's largest crypto custodian more than tripled during the second half of 2023 amid the crypto realm's excitement for spot Bitcoin ETFs. (Credit: Marco Verch/flickr)

KEY POINTS

  • The significant increase in deposits came as crypto markets anticipated the SEC's spot BTC ETFs decision
  • KODA also said its local market share in crypto custodial services reached 80% in H1 2023
  • The ruling party said it was considering possibly allowing investments on overseas-approved crypto products

Korea Digital Asset (KODA), South Korea's largest institutional crypto custodian, announced that its crypto assets in custody climbed nearly 248% during the second half of 2023 as the country considers the potential of local spot Bitcoin exchange-traded funds (ETFs).

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