Skip to content

Thailand Joins Global Trend With First Bitcoin ETF

This move comes after similar launches in Hong Kong and the United States, marking a growing trend of regulatory acceptance for cryptocurrency-based investment products.

Photo by Dan Freeman / Unsplash

Table of Contents

Thailand's Securities and Exchange Commission (SEC) has greenlit the country's first Bitcoin exchange-traded fund (ETF), according to a report in the Bangkok Post on Tuesday.

This move places Thailand alongside a growing list of countries, including the US, Hong Kong, Australia, and the UK, that have approved spot Bitcoin ETFs.

LSE Approves First-Ever Crypto ETPs in Europe
This move comes after prospectuses from WisdomTree and 21Shares were greenlit by the Financial Conduct Authority (FCA).

The SEC-approved ETF, launched by One Asset Management (ONEAM), is structured as a "fund of funds." This means it will provide investors with exposure to Bitcoin through investments in 11 major global Bitcoin funds, aiming to mitigate the risks associated with directly holding the volatile cryptocurrency. However, access to the fund will be limited to accredited and institutional investors, reflecting a cautious approach from Thai regulators as they open the cryptocurrency market.

This approval follows the Thai SEC's amendment of local guidelines in April, which specifically permitted the creation of restricted Bitcoin ETFs targeting professional investors. This move aligns with the global trend of countries embracing regulated Bitcoin investment vehicles, offering investors a way to participate in this emerging asset class.

Growing Interest in Digital Assets

"Digital assets are an alternative asset that has a low correlation with other financial assets," he stated. "They are suitable to help investors diversify investment risks," ONEAM's CEO, Pote Harinasuta, said.

Thailand's first Bitcoin ETF represents a cautious step forward for the country's cryptocurrency market. By limiting access to accredited investors, the SEC is seeking to balance potential risks with providing a regulated product for those interested in Bitcoin.

While MFC Asset Management awaits regulatory clearance for its own planned Bitcoin ETF product, the future of cryptocurrency investment in Thailand appears to be cautiously optimistic. The success of this first ETF will likely influence the pace of further regulatory developments in this rapidly evolving market.

Spot Bitcoin ETF Frenzy: IBIT Grabs Top Spot as Institutions Dive In
BlackRock’s IBIT ETF surges to become world’s largest Bitcoin fund in record time, surpassing Grayscale’s GBTC. Daily inflows into spot Bitcoin ETFs signal strong institutional adoption of digital assets.