Taiwan's FSC Opens Access to Cryptocurrency ETFs for Professionals

user avatar

by Giorgi Kostiuk

2 years ago

Taiwan’s Financial Supervisory Commission (FSC) has taken a landmark decision, allowing professional investors to gain exposure to cryptocurrency exchange-traded funds (ETFs), including Bitcoin ETFs.

Professional Investors Only

According to the FSC rule, to mitigate the risk associated with the products, initially, only professional investors, such as institutional entities, high-net-worth individuals, and legal entities with substantial assets and investment experience, will have access to these ETFs. However, retail investors in Taiwan will have to wait a little more as they are not yet allowed to participate. The FSC in their press release clarified that securities firms must secure board approval before facilitating Bitcoin ETF investments for clients. In addition, non-institutional clients will need to sign a risk warning before making their first crypto ETF purchase.

Good for Crypto Adoption?

This development follows months of global demand for Bitcoin ETFs, particularly after the U.S. market saw inflows of over $1 billion into Bitcoin ETFs last week. Taiwan’s decision mirrors the cautious yet forward-looking approach taken by other markets like Hong Kong and Australia, which have launched Bitcoin ETFs in a bid to offer regulated crypto investment opportunities. The FSC also announced that it has started consultations with the Securities Business Association of the Republic of China to assess the risks associated with foreign crypto ETFs.

Growing Demand for Bitcoin ETFs

The global craze for Bitcoin ETFs is rising, with strong interest in the U.S., Hong Kong, and Australia, even as Chinese investors continue to turn to Bitcoin amid economic challenges. Former Chinese Finance Minister Lou Jiwei recently urged caution regarding crypto’s potential impact on financial stability during the 2024 Tsinghua Wudaokou Chief Economists Forum. Taiwan’s Financial Supervisory Commission (FSC) has acknowledged cryptocurrency’s growing importance by allowing professional investors to access Bitcoin ETFs while ensuring strict oversight and monitoring of the market.

This is a crucial step by Taiwan to enhance crypto trading in the country while keeping investors in mind.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

World Chain Completes Karst Network Upgrade

World Chain has successfully implemented the Karst network upgrade, enforcing new software requirements for node operators.

user avatarTando Nkube

US Spot Bitcoin ETFs See Major Inflows After Quiet Week

US spot Bitcoin ETFs saw a remarkable inflow of nearly $100 million on Monday, marking a significant turnaround from the previous week.

user avatarKofi Adjeman

Circle Raises $100 Million from Binance through Share Sale

Circle has raised $100 million by selling shares to Binance as part of a commercial agreement to promote USDC.

user avatarNguyen Van Long

Circle and Binance Extend Partnership with New Agreement

Circle and Binance have renewed their partnership with a new agreement that replaces previous contracts. This arrangement allows Binance to hold shares in Circle while promoting the USDC stablecoin on its platform.

user avatarSatoshi Nakamura

Coincheck Group Announces Leadership Change

Coincheck Group has confirmed the resignation of Executive Chairperson Takashi Oyagi, effective September 21, for personal reasons, and has approved a new leadership transition structure.

user avatarJesper Sørensen

MEXC Launches Initiatives to Enhance Access to Financial Markets

MEXC has launched several initiatives, including the Trade Wall Street, Without Walls campaign, to enhance access to traditional financial markets.

user avatarRajesh Kumar

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.