Circular on SFC-authorised funds with exposure to virtual assets
Worth readingVAProducts
What the SFC said
This revised circular sets requirements for authorising funds with over 10% NAV exposure to virtual assets, covering direct investment in spot VA tradable on licensed VATPs and indirect exposure via futures and exchange-traded products. It supersedes the 7 April 2025 circular and excludes Relevant Stablecoins and tokenised deposits.
This page is our summary and commentary, not the circular itself — always read the original before acting.
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