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Thailand has officially approved its first spot Bitcoin exchange-traded fund (ETF), signaling a significant endorsement of cryptocurrency investments. The Thai Securities and Exchange Commission (SEC) has greenlit One Asset Management (ONEAM) to launch the ONE Bitcoin ETF Fund, with availability set from May 31 to June 6. Aimed at affluent and institutional investors, this move aligns with the SEC’s revised April guidelines focusing on professional investors.
This ETF will tap into 11 major global Bitcoin funds, ensuring robust liquidity and heightened security. By offering regulated Bitcoin exposure, the ONE Bitcoin ETF Fund mitigates risks such as theft, prevalent in direct cryptocurrency ownership. Meanwhile, MFC Asset Management is also in the queue, awaiting approval for its Bitcoin ETF, pointing to a growing institutional interest in regulated crypto assets in Thailand.
The global trend of accepting Bitcoin ETFs has seen jurisdictions like the USA, Hong Kong, Australia, and the UK facilitating easier access to Bitcoin investments. Thailand’s regulatory approval reflects a keen awareness of institutional demand for Bitcoin, potentially paving the way for broader acceptance and public offerings in the future.
