South Korean funeral company records $33M unrealized loss on leveraged ETH ETFs
South Korea’s seventh-largest mutual aid company is currently sitting on a $33 million paper loss on its leveraged Ether ETF investment, following the crypto market downturn.
South Korean funeral service company Bumo Sarang is sitting on roughly 49.3 billion won ($32.7 million) in unrealized losses after investing about $40 million in customer funds into leveraged crypto exchange-traded funds (ETFs).
Bumo Sarang invested in the T-REX 2X Long BMNR Daily Target ETF (BMNU), which doubles the daily returns of Ether (ETH) treasury company Bitmine, according to the company’s audit report for 2025.
Another funeral service company, Christian Funeral Family of Faith, recorded a $331,700 net loss last year, according to Korea Economic Daily.