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Lee Jae-myung Pledges to Greenlight Crypto ETFs—Wall Street’s Next Fee Machine?
Lee Jae-myung Pledges to Greenlight Crypto ETFs—Wall Street’s Next Fee Machine?
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South Korea’s presidential contender Lee Jae-myung just threw crypto investors a bone—or maybe a grenade. His campaign vow to approve cryptocurrency ETFs could turbocharge institutional adoption... or give hedge funds fresh ammo to pump-and-dump retail.
The Policy Play:
If elected, Lee would override Korea’s notorious crypto skepticism, letting asset managers list Bitcoin and altcoin funds. Analysts whisper this might pressure the FSA to soften its anti-crypto stance.
The Catch:
Remember when Grayscale’s BTC trust traded at a 30% premium? Yeah, Wall Street’s already salivating over the arbitrage play. ’Innovation’ here smells suspiciously like another way to skim 2-and-20 fees from pension funds.
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