[Bitcoin Now] Despite Application for Coin ETF by Famous Asset Manager... Stays in 40 Million KRW Range Amid Hawkish Stance

Ark Investment Bitcoin Return Tracking ETF Application
Bank of Mexico: "Cryptocurrency Use Not Allowed in Domestic Financial System"
Another 'Sangpaebim' Occurs... Investors Should Be Cautious

[Asia Economy Reporter Gong Byung-sun] The representative cryptocurrency Bitcoin remained in the 40 million KRW range. While the US asset management firm Ark Investment applied for a Bitcoin exchange-traded fund (ETF), the Mexican government firmly stated that cryptocurrencies cannot be used within its financial system.

According to the domestic cryptocurrency exchange Upbit, as of 3:05 PM on the 29th, Bitcoin recorded 40.15 million KRW, up 0.49% compared to the previous day. Since the 26th, it has been on an upward trend, recovering to the 40 million KRW range and showing little fluctuation.

Ark Investment is aiming to list a Bitcoin ETF on the US stock market. According to US economic media CNBC on the 28th (local time), Ark Investment submitted an ETF application tracking Bitcoin returns to the US Securities and Exchange Commission (SEC). Previously, Ark Investment preferred indirect investment methods, such as purchasing Coinbase shares, a US cryptocurrency exchange, and Grayscale's Bitcoin Trust, a US asset management firm, on the 23rd. This is the first time Ark Investment directly holds Bitcoin.

On the other hand, the Mexican government stated that Bitcoin cannot be accepted within the financial system. According to CNBC on the 28th, the Bank of Mexico issued a statement that cryptocurrencies are not legal tender and cannot be used within the country's financial system. It also specified that financial institutions in Mexico do not have the authority to conduct public projects for cryptocurrencies and said it will continue this policy stance.

The background of the Bank of Mexico's position includes the pro-cryptocurrency remarks of Mexican billionaire Ricardo Salinas Pliego. On the 28th, Salinas tweeted, "Azteca Bank, which I operate, is attempting to build a system to become the first financial institution in Mexico to handle Bitcoin," and added, "I recommend investors neither buy nor sell Bitcoin right now." Salinas is known as the third richest person in Mexico, with assets amounting to 15.8 billion USD (approximately 17.8476 trillion KRW). Last year, Salinas revealed that 10% of his investment assets were held in Bitcoin.

Meanwhile, concerns have been raised that cryptocurrencies facing delisting are soaring again without clear reasons. Einsteinum, scheduled to end trading on July 3, recorded 493 KRW as of the same time, up 16.82% compared to the previous day. Until the 26th, Einsteinum was priced at 58 KRW, but after the delisting announcement, it surged 352.30% in one day. The cryptocurrency industry analyzes that investors are aiming for short-term profits with cryptocurrencies facing delisting, causing the sharp rise.

This content was produced with the assistance of AI translation services.