When will the Taiwan version of cryptocurrency ETF be launched? FSC: Self-regulation is the main focus, market will gradually open up.

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US Players Boost Cryptocurrency Market Performance

Benefiting from the expected rate cut by the Federal Reserve and institutional applications for a Bitcoin spot ETF, along with the upcoming halving event in 2024, Bitcoin has already surged by 149% this year.

According to reports from Commercial Times and Chinatimes, compared to many global fund institutions in the US attempting to apply for a Bitcoin spot ETF, domestic investment trusts in Taiwan have also expressed interest in introducing similar products.

The Financial Supervisory Commission (FSC) responded to this.

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When Will Taiwan's Cryptocurrency ETF Be Launched?

The FSC pointed out that many cryptocurrency ETFs and derivatives have already emerged overseas, including futures and options products from CME, Chicago Mercantile Exchange, and Intercontinental Exchange.

Regarding ETFs, Toronto Stock Exchange in Canada, Cboe Australia Exchange, and Hong Kong Exchange all have listed spot and futures ETFs.

The FSC stated that the regulation of virtual assets still prioritizes self-regulation standards. Although many domestic investment trusts considered issuing cryptocurrency and blockchain-related ETFs two years ago, they were temporarily put on hold due to the high speculative nature and significant volatility of cryptocurrencies, as perceived by regulatory authorities.

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The FSC also mentioned that the first STO has been approved domestically, and on December 12, a token will be issued on a blockchain network platform established by Cathay Securities, with secondary market trading to commence.

The regulatory authority will continue to monitor the global development of cryptocurrency futures products and ETFs and gradually relax regulations based on market conditions.

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