As reported by Cointelegraph, the Australia Securities and Investments Commission (ASIC) has issued its response to public consultation on cryptocurrency exchange-traded products (ETPs) alongside fresh industry guidance. According to the official guidance, ASIC has so far greenlighted ETPs based on major cryptocurrencies like Bitcoin (BTC) and Ether (ETH) and expects more crypto assets to become a foundation for ETPs in the future. In order to become a proper basis for a crypto ETF, crypto assets should obtain a high level of institutional support, a mature spot market, a regulated futures market, reputable and experienced service providers and transparent pricing mechanisms, the guidance reads. For each crypto ETF product application, licensed exchanges have to assess whether the issuer is able to fulfill its obligations in relation to the product, including providing safe and secure custody as well as obtaining relevant licenses. In a response to public consultation, the ASIC also said that it doesn’t require domestic crypto custody for entities issuing crypto ETFs.