In the latest development, the organization published guidance detailing regulatory requirements for funds waiting to offer crypto ETPs, including exchange-traded funds and structured products.
ASIC maintains that these factors are deployed with intentions to support a ‘fair, orderly and transparent market’ by guaranteeing that only those digital assets that meet these criteria can be supported within the ETP structure.
While it has given the green light to set cryptocurrency-backed funds dedicated to retail investors, products linked to BTC and ETH are the only ones that will be eligible for approval so far.
The growing demand for new investment vehicles for Bitcoin had existed for a long time, even before Wall Street decided to open its doors to the sector.