Cryptocurrency futures ETFs are traded on the New York Stock Exchange (NYSE), Toronto Stock Exchange, Nasdaq, Hong Kong Stock Exchange, Cboe and other platforms. Still, the Taiwanese regulator is pushing for a gradual approach to cryptocurrency ETFs, with robust standards to be developed before launching.
Taiwan’s government tightened regulation of the crypto industry in 2021 out of concern that clear regulations may be needed to protect local crypto investors from risks after the first bitcoin futures ETFs were launched in the U.S.. Taiwan’s regulator was wary of the volatility of cryptocurrency ETFs and the potential for speculation in the market, so in recent years has opposed initiatives by local investment banks to launch cryptocurrency exchange-traded funds. The FSC is now reconsidering the position and the authorities may support the launch of these products as more market opportunities will open up to investors without the need for direct ownership of cryptocurrencies.
In early November, the Hong Kong Securities and Futures Commission (SFC) also began preparing for the approval of spot bitcoin ETFs, with regulatory and risk mitigation work already underway.