You can also buy Bitcoin ETFs in Taiwan!
After the United States approved the listing of Bitcoin spot ETFs on the New York Stock Exchange, Nasdaq Exchange and Cboe BZX on January 10 this year, because the competent authorities did not immediately express their position or prohibit it, Taiwanese investors could initially use multiple entrustment methods. Buy the U.S. Bitcoin Spot ETF.
However, two weeks later, a number of domestic securities firms issued an announcement stating that because the competent authorities took into account the large price fluctuations and high risks of cryptocurrency commodities, on the premise of protecting investors, they could only sell Bitcoin spot ETFs through entrustment. You can add new purchases.
Recently, the Financial Supervisory Commission (hereinafter referred to as the Financial Supervisory Commission), with reference to the recommendations of the Securities Business Association of the Republic of China, has allowed professional investors to invest in foreign virtual asset ETFs through re-entrustment.
The key points of this opening content and supporting measures are as follows:
1. Differences in investor status:
Considering that the nature of virtual assets is complex and prices fluctuate violently, the investment risk of virtual asset ETFs is relatively high. The principals entrusted by securities firms to buy and sell foreign virtual asset ETFs are limited to professional investors. Professional investors include professional institutional investors, high-net-worth investment legal persons, high-asset clients, legal persons or funds that are professional investors, and natural persons that are professional investors.
2. Strengthen understanding of customer procedures:
Securities firms should establish an appropriate product suitability system for virtual asset ETFs and submit it to the board of directors for approval, and evaluate the client’s professional knowledge and investment experience in virtual assets and related product investments before the client’s initial purchase to understand the client’s entrusted transactions. Suitability of the product.
3. Sign the risk notice:
Unless the client is a professional institutional investor, the client should sign a risk warning letter before the initial purchase before the securities firm can accept its entrustment.
4. Provide product information:
Unless the client is a professional institutional investor, securities firms should provide virtual asset ETF-related product information before the client makes the first purchase.
5. Regular education and training:
Securities firms should regularly conduct education and training on virtual assets and related products for business personnel to facilitate the business personnel to fully understand the products.
The Financial Supervisory Authority will continue to pay attention to the handling of re-entrusted business by securities firms and continue to improve relevant regulations to ensure the rights and interests of investors and enhance the competitiveness of securities firms.
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