Coin Craze Expands to ETFs... BlackRock ETF Attracts 12 Trillion Won in a Month [Crypto Briefing]

[Financial News] As the U.S. government accelerates its pro-virtual asset policy moves, including the release of the 'Digital Asset Working Group Comprehensive Report', the related ETF market is also stirring. Not only Bitcoin and Ethereum spot ETFs but also short-term bond ETFs linked to stablecoins are attracting large-scale capital, leading a new 'money move'.
On the 31st (local time), the comprehensive report of the Digital Asset Working Group released by the White House specifies the government's virtual asset reserve strategy and stablecoin institutionalization, drawing investors' attention. The approximately 170-page report, prepared under the executive order of President Donald Trump, contains regulatory and policy recommendations covering stablecoin and virtual asset-related taxation, prevention of illegal finance, and treasury strategy. In particular, the virtual asset reserve strategy includes not only Bitcoin but also Ethereum, XRP (Ripple), and Solana, officially recognizing the long-term value of these assets by the government.
Additionally, it clarified the regulatory framework by granting the Commodity Futures Trading Commission (CFTC) the authority to regulate the non-security digital asset spot market. This is expected to lower the entry barriers for institutional investors into ETF investments.
As the Trump administration actively embraces the privately-led virtual asset ecosystem and moves to strengthen financial sovereignty through blockchain, Wall Street's movements are also accelerating. During July, when legislation such as the U.S. Congress's 'Crypto Week' accelerated, large-scale capital flowed into Bitcoin and Ethereum spot ETFs.
In the case of BlackRock's Bitcoin and Ethereum spot ETFs, the world's largest asset manager, over 12 trillion won in funds were attracted in the past month. According to KB Securities, BlackRock's Bitcoin spot ETF (IBIT) and Ethereum spot ETF (ETHA) attracted funds worth $5.12 billion and $4.1 billion, respectively, securing top positions in global ETF capital inflows.
KB Securities researcher Park Yoo-an analyzed, "As the U.S. allows the issuance and distribution of stablecoins through legislation, Ethereum and Bitcoin, which serve as the structural foundation and collateral/value storage means for stablecoins, are gaining attention." In particular, as the issuance and distribution of stablecoins increase, Ethereum is the main beneficiary. According to the virtual asset information platform DeFiLlama, the global stablecoin market size amounts to approximately $262 billion, with nearly half, about $130 billion, operating on the Ethereum network.
Additionally, the inflow of funds into short-term bond ETFs is also explained to be related to stablecoins. This month, $2.8 billion flowed into SGOV, a short-term bond and money market fund (MMF) ETF. The SGOV ETF is a short-term fund-type product that invests in U.S. Treasury securities with a remaining maturity of less than three months. Researcher Park explained, "Most stablecoins hold reserve assets to fully collateralize the value of the issued coins, and a significant portion of these reserve assets are composed of U.S. short-term bonds and short-term bond ETFs like MMF or SGOV." He added, "In particular, domestic investors find it difficult to directly invest in virtual asset spot ETFs like Bitcoin or Ethereum due to regulations, so there is a high demand for ETFs that allow indirect access to the related ecosystem."
ETFs that include coin mining companies are also rapidly emerging. Shinhan Investment Corp. researcher Park Woo-yeol reported, "ETFs of coin mining companies like Bitcoin are also increasing in value," adding, "Among major mining companies, Marathon Holdings recently received an investment rating upgrade from JP Morgan due to improved profitability and mining efficiency."
elikim@fnnews.com Kim Mi-hee Reporter