tl;dr
The Taiwan Financial Supervisory Commission (FSC) has announced that professional investors can now invest in cryptocurrency exchange-traded funds (ETFs), including Bitcoin ETF, under certain supervision and rules. Securities firms in Taiwan must secure board approval before facilitating Bitcoin ETF...
Taiwan FSC Allows Professional Investors Access to Bitcoin ETFs
The Taiwan Financial Supervisory Commission (FSC) has announced that professional investors can now invest in cryptocurrency exchange-traded funds (ETFs), including Bitcoin ETF, under certain supervision and rules. Securities firms in Taiwan must secure board approval before facilitating Bitcoin ETF investments. Non-institutional investors are required to sign a risk warning before making their first purchase. This decision follows increasing global demand for Bitcoin ETFs, particularly in the U.S. Only professional investors, including institutional investors and high-net-worth legal entities, can gain exposure to crypto ETFs initially. The Taiwan FSC will monitor the implementation of these measures to protect investors and enhance the competitive edge of securities firms.
The Taiwan FSC has started consultations with the Securities Business Association of the Republic of China to review the investment risks associated with foreign crypto ETFs. The development comes two months after Taiwan Mobile secured a license to be the virtual assets service provider (VASP) in the country. Initially, retail investors in Taiwan won’t have exposure to crypto ETFs. Only professional investors, including institutional investors, high-net-worth legal entities, and individual investors with substantial asset portfolios and relevant investment experience, can gain the exposure. Rising demand for Bitcoin ETFs is evident globally, as significant inflows have been observed in the U.S., and launches have occurred in Hong Kong and Australia. Former Chinese finance minister Lou Jiwei urges to closely examine advancements in the crypto sector amidst the growing demand for US Bitcoin ETFs.
Despite the ban, Chinese investors are seeking shelter in Bitcoin amid the fragility of the country’s economy. The spot Bitcoin ETFs continued to be in demand, raking in more than $1 billion in inflows last week in the United States. Other markets like Hong Kong and Australia have also launched this investment product, providing investors a regulated environment for investing in this asset class. The Taiwan FSC has stated that it will monitor the implementation of these measures and continue to refine regulations to protect investors while enhancing the competitive edge of securities firms.
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Company: United States Steel Corporation
Business Focus: Manufacturing, Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens)
Headquarters: Pittsburgh, Pennsylvania
Phone: 8013146000
Current Stock Price: $15.55
Price Change: $0.2
Percentage Change: 2.29%
52-Week Range: $7.31 - $0.034
Market Cap: $16,853,000,000
PE Ratio: 42.16
EPS: -$0.617
Dividend Yield: -0.178%
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Tanzanian Royalty Exploration Corp, Tanzanian Gold Corporation is engaged in the exploration and development of mineral property interests in the United Republic of Tanzania. The company is headquartered in Vancouver, Canada.
Industry: ENERGY & TRANSPORTATION
Product: GOLD AND SILVER ORES
Market Cap: 111382000
Dividend Yield: None
Beta (5Y Monthly): 0
Price/Earnings (ttm): 0.127
Earnings Per Share (EPS): -0.0306
Volume: 36723000
Open: 1.38
Day's Range: 2.549
Previous Close: 0.625
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