Korea Teacher's Credit Union denies plans to invest in bitcoin

Update: The union has denied local reports that it planned to invest indirectly in bitcoin. We have updated the headline and article to reflect this.

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The Korea Teacher's Credit Union, which manages $40 billion in assets, has denied local reports that it plans to start investing in bitcoin next year.

The initial report by The Korea Economic Daily said that the credit union was going to get exposure to bitcoin via investment products, such as bitcoin ETFs. This would have been the first instance of a pension fund in the country investing in bitcoin.

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Tim is the Editor-In-Chief of The Block. Prior to joining The Block, Tim was a news editor at Decrypt. He has earned a bachelor's degree in philosophy from the University of York and studied news journalism at Press Association Training. Follow him on X @Timccopeland.