Thailand Approves First Spot Bitcoin ETF, Opening Doors for Institutional Investors
In a groundbreaking move, Thailand has approved the launch of its first spot Bitcoin exchange-traded fund (ETF), signaling a significant step towards embracing regulated Bitcoin investment vehicles. The Thai Securities and Exchange Commission (SEC) has given the green light to asset manager One Asset Management (ONEAM) to introduce the ONE Bitcoin ETF Fund.
The ETF, set to be distributed between May 31 and June 6, will be limited to wealthy and institutional investors under the Thai SEC’s rules. This decision follows the regulator’s amendment of local guidelines in April to allow restricted Bitcoin ETFs targeting professional investors.
ONEAM plans to invest the fund in 11 major global Bitcoin funds to ensure liquidity and security. The company highlights that the ETF offers exposure to Bitcoin within a regulated framework, mitigating risks like theft associated with direct ownership.
While ONEAM has secured approval, fellow Thai firm MFC Asset Management is still awaiting regulatory clearance for its own Bitcoin ETF product. Both offerings will be exclusive to qualified investors, reflecting the growing interest in Bitcoin among institutional players.
Thailand’s move follows in the footsteps of the US SEC, which approved several Bitcoin ETFs earlier this year, leading to a surge in interest. Other jurisdictions, including Hong Kong, Australia, and the UK, have also introduced spot Bitcoin ETFs or similar products in response to growing demand.
The introduction of Bitcoin ETFs provides a convenient and regulated way for investors to gain exposure to Bitcoin’s price movements without directly handling the cryptocurrency. This development is expected to attract more professional investors and institutions to the market.
By approving a Bitcoin ETF, Thailand’s regulators are acknowledging the increasing demand from local institutions to include Bitcoin in their portfolios. The move could pave the way for broader mainstream adoption once public offerings become available, further solidifying Bitcoin’s position in the global financial landscape.
