Major South Korean mutual aid firm loses 49.3B won on leveraged crypto ETF

Bumo Sarang, the seventh-largest mutual aid company in South Korea, lost 49.3 billion won last year after investing 59.5 billion won of its operating funds into a leveraged exchange-traded fund (ETF), Hankyung reported. The ETF was designed to track twice the daily return of Bitmine (BMNR), an Ethereum-themed stock. According to a comprehensive review of 2025 audit reports for 75 mutual aid companies conducted by the newspaper, 42.7% of the firms have total assets that are less than the advance payments owed to customers. This indicates that these companies would be unable to provide full refunds if all clients were to cancel their contracts at once.