Taiwan's FSC Opens Access to Cryptocurrency ETFs for Professionals

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 Cache Room

Resource Cache

Tier I

Requires 25% Tier Progress to Claim

Meme Cache

Tier I

Requires 50% Tier Progress to Claim

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

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

Tier I

Sector: #18291

25%

50%

75%

100%

Tier II

Survivors rescued:

0 / 600

Survivors

0/0

Transmit Signal

Broadcast this sector's coordinates to other rescuers.

Other news

Strategy Halts Bitcoin Transactions for the Week

Strategy did not engage in any Bitcoin purchases or sales last week, maintaining its holdings at 840,447 BTC.

Katerina Papadopoulou31 minutes ago

Fake Downloads of The Odyssey Spread Lumma Stealer Malware

Security firm Bitdefender warns that pirated copies of The Odyssey are circulating with malware designed to steal cryptocurrency wallets.

Maya Lundqvistan hour ago

Shiba Inu SHIB Gains Momentum with New Listings and Adoption

Shiba Inu SHIB has been listed on the Australian exchange FameEX and is now usable at Dubai Duty Free airport stores, marking significant adoption milestones.

Leo van der Veena day ago

Rise in Wrench Attacks Targeting Cryptocurrency Holders

The report highlights a surge in wrench attacks, particularly in France, where criminals are targeting cryptocurrency holders.

Aisha Farooq3 days ago

Massive Data Breach Exposes French Tax Records

A hacker is selling a large database of French tax records that could affect over 678,000 individuals and businesses, raising concerns about phishing and identity theft.