Some services including Bloomberg reported several days ago that Japan considered a possibility of the approval of a Bitcoin exchange-traded fund (ETF). It allegedly would be used as an alternative to Bitcoin futures.
However, the representative of the FSA claimed that Japan was not considering of giving green light to the Bitcoin ETFs, saying:
“There is no such fact that we are considering approving ETFs which track crypto-assets at present. We are not currently considering approving them.”
The necessity of approving them may lie in decreasing the risk of price manipulation on the Japan market. Nevertheless, the FSA spokesman stated that there was no need of any cryptocurrency-related derivatives for now in Japan expressing its negative attitude towards both crypto ETFs and futures products.
He said: “Taken it into consideration that it is difficult for us to find constructive and social significance of trading crypto-assets derivatives at present, we think that there is no need for trading crypto-assets derivatives at financial instruments exchanges where many market participants are able to trade.”
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