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Thailand’s financial regulators are set to enhance cryptocurrency accessibility by potentially allowing bitcoin exchange-traded funds (ETFs) to list on local exchanges. Secretary-General of the Securities and Exchange Commission, Pornanong Budsaratragoon, revealed plans to enable both individual and institutional investors to engage with local bitcoin ETFs, offering direct bitcoin exposure.
Earlier actions by Thailand’s SEC included approving asset management firms to invest in U.S. spot bitcoin ETFs for institutional investors in March 2024, followed by the launch of a fund-of-funds by One Asset Management in June, targeting professional and institutional investors for overseas bitcoin ETF exposure. Budsaratragoon emphasized the necessity for Thailand to align with global cryptocurrency adoption trends, ensuring investor protections while diversifying investment options in crypto assets.
This progressive stance follows Binance’s partnership with Gulf Innova in January 2024, introducing Gulf Binance to offer cryptocurrency exchange services in Thailand, underscoring the nation’s commitment to becoming a hub for crypto innovation and investment.
