1.    FSC Allows Investment by Securities Investment Trust Funds in Overseas Passive Virtual Asset ETFs 

To promote the initiative to develop Taiwan into an Asian asset management center and plans to expand securities investment trust business, the Financial Supervisory Commission (FSC) issued Orders Nos. Financial-Supervisory-Securities-SITC-1130386402 and 11303864021 on 24 February 2025. These orders allow securities investment trust funds to invest in overseas passive virtual asset ETFs. Among the key content and supporting measures set out in the orders, in the initial stage, investment will first be allowed in overseas passive Bitcoin ETFs. Only multi-asset funds and funds of funds will be permitted to make such investment, and the investment limits are set as follows: investment by a fund in domestic futures trust funds and in ETFs including domestic and foreign passive leveraged, inverse, futures, commodity, and virtual asset ETFs shall not, in total, exceed 10% of the net asset value of the fund, among which investment in overseas passive Bitcoin ETFs shall not exceed 5%. When a securities investment trust fund makes any new investment in an overseas passive Bitcoin ETF, the securities investment trust enterprise is required to submit the amended trust contract to the FSC and to disclose related risks in the fund prospectus. It furthermore shall incorporate related risk assessment and control measures in its internal control system.