Following the recent approval of the Ethereum ETF 19b-4 application by the Securities Exchange Commission (SEC), South Korean regulators are under increasing pressure to approve a cryptocurrency ETF. According to local media reports, the U.S. SEC's decision on Ethereum is expected to force Seoul financial regulators to reconsider their stance on digital assets. Xangle, a leading Seoul-based digital currency data provider, has opposed a ban on digital assets in traditional securities markets, calling it "obsolete" and in need of modifications to accommodate the growing importance of digital assets in modern finance. Jung Eui-jung, chairperson of the Korea Shareholders' Union, also stressed the importance of Seoul following the US lead and approving Bitcoin and Ethereum ETFs, as the current indecision is causing frustration outside the cryptocurrency space. Jung warned that if Seoul regulators continue to make no progress while they make progress in the US, investors could move their money to the US market, saying it was "only a matter of time before the US fully opens its doors to other less traded cryptocurrencies".