Taiwan’s 14 brokerage firms have launched virtual asset ETFs via omnibus authorization for cross-advisory (sub-advisory) arrangements, with cumulative trading exceeding NT$98.99 billion New Taiwan dollars

According to the latest statistics provided by the FSC Securities and Futures Bureau, as of the end of March 2026, there were 14 securities firms in Taiwan that have launched virtual asset ETF cross-border sub-advisory business, with cumulative trading exceeding NT$8B. Huang Zhonghao, Deputy Director of the Securities and Futures Bureau of Taiwan, stated that the Financial Supervisory Commission (FSC) has required the securities firms’ association to submit an assessment report regarding the implementation of virtual asset ETF cross-border sub-advisory business over the past year, and that the assessment will expand eligibility to retail investors.

Current business scale: 14 securities firms participating, with cumulative trading exceeding NT$9.9B

Based on data from the Securities and Futures Bureau of the FSC, as of the end of March 2026, Taiwan had 14 securities firms that have launched virtual asset ETF cross-border sub-advisory business, including UBS Securities, Uni-President Securities, CTBC Securities, Pocket Securities, Mega Securities, Taishin Securities (including Yuanta Securities after the merger), KGI Securities, E.SUN Securities, Cathay Securities, Yuanta Securities (Gongyi) Ding Securities, KGI Securities, Fubon Securities, and Eternity Securities.

Based on data from the FSC, from early 2025 to the end of March 2026, the cumulative trading amount for professional investors to place orders through the cross-border sub-advisory channel to buy and sell foreign virtual asset ETFs reached NT$9.9B; as of the end of March 2026, investors’ holdings totaled approximately NT$9.9B, accounting for 0.06% of the overall value of cross-border sub-advisory business.

Huang Zhonghao, Deputy Director of the Securities and Futures Bureau, said that although trading amounts fluctuate with market enthusiasm, the current business scale is still on the margins compared with the overall cross-border sub-advisory market.

The FSC’s three core indicators for opening the market to retail investors

According to Huang Zhonghao’s public statement, the FSC requires the securities firms’ association to conduct a survey and submit a report on the following three indicators:

First, whether any major consumer disputes or customer complaint cases occurred during the participation period of professional investors; second, whether, when securities firms execute KYC (know your customer) and product suitability assessments on the front line, they can allow investors to fully understand the extreme volatility characteristics of virtual assets; third, to collect information on how international mainstream markets’ regulatory rules for such products have evolved.

Huang Zhonghao said that the FSC is closely monitoring the latest regulatory measures in the United States and other countries regarding the buying and selling of virtual asset ETFs. If most countries have made regulatory breakthroughs and the market operates smoothly, Taiwan will refer to those experiences and re-examine the feasibility and supporting conditions for retail investors in Taiwan to trade foreign virtual asset ETFs.

International regulatory backdrop

According to an FSC statement, the international markets referenced for assessment include the United States (which has launched multiple virtual asset spot ETFs) and Hong Kong (which allows retail investors to participate in such ETF trading under certain structures). Huang Zhonghao said that Taiwan’s competent authority has listed the regulatory practices in the two places above as important reference bases for policy evolution.

Frequently Asked Questions

What are the core regulatory bases for Taiwan’s virtual asset ETF cross-border sub-advisory business?

According to official records from the FSC, in September 2024 the competent authority issued relevant letters and directives approving Taiwan securities firms to conduct transactions of overseas listed virtual asset spot ETFs via the cross-border sub-advisory channel; the business formally began at the start of 2025, and initially was limited to participation by professional investors as defined by regulations.

What is the key basis for the FSC’s assessment on whether to open it to retail investors?

According to Huang Zhonghao, Deputy Director of the Securities and Futures Bureau, in his public statement, the FSC has required the securities firms’ association to submit a comprehensive report on business implementation over the past year or more. The assessment and evaluation indicators in the report include records of consumer disputes, the status of KYC implementation, and international regulatory trends; after receiving the report, the competent authority will conduct an assessment.

As of the end of March 2026, what are the scale figures for Taiwan’s virtual asset ETF cross-border sub-advisory business?

According to data from the FSC Securities and Futures Bureau, cumulative trading reached NT$1.2B, and the holdings amount was approximately NT$9.9B, accounting for 0.06% of the overall cross-border sub-advisory business; currently, 14 securities firms have launched this business.