South Korea’s Governing Party Presses Regulators To Allow Bitcoin Spot ETFs

South Korea’s ruling People Power Party has renewed its push for domestic Bitcoin exchange-traded funds, saying regulators should authorize spot products without further delay. The statement came after the party’s third meeting of the Special Committee on Stock and Digital Asset Value-Up, where members restated that ETF approval was an election pledge and remains part of the current policy agenda.

Committee Chair Kim Sang-hoon said market sentiment toward Bitcoin spot ETFs and institutional participation in digital assets is positive, so there is no reason for Korean investors to be left out. This puts fresh political pressure on financial regulators.

Related: South Korea May Soon Allow Bitcoin Spot ETFs

PPP Says It Will Change The Law If Regulators Move Too Slowly

The PPP argued that allowing a Bitcoin spot ETF would enable investors to access the market through regulated securities accounts, offering a safer and more transparent investment structure. Kim added that a domestic ETF system could also support job creation and strengthen the foundation of South Korea’s financial markets.

In addition, the committee noted that opening legal channels for foreign participation could contribute to the internationalization of Korean won-denominated assets. This approach, according to party officials, would position the country’s financial sector for greater global integration as the digital asset industry expands.

Election Commitments Still Drive The Crypto Reform Timeline

The announcement follows an earlier April report outlining the PPP’s broader crypto policy agenda. At the time, the party proposed seven measures aimed at supporting South Korea’s digital asset network in preparation for national elections. Among the key initiatives were scrapping the “one exchange, one bank” rule, a regulation that limited crypto exchanges to a single banking partner, and permitting the trading of spot crypto ETFs within the year.

Lawmaker Park Soo-min noted in April that U.S. spot Bitcoin ETFs had drawn large investor interest and liquidity, stressing that South Korea “cannot afford to delay any longer.” Both the ruling People Power Party and the opposition Democratic Party previously pledged to lift the domestic ban on spot crypto ETFs, signaling bipartisan momentum for reform.

Related: All Major South Korean Presidential Candidates Support Bitcoin ETFs