The Securities and Exchange Commission (SEC) of Thailand has approved One Asset Management (ONEAM) to become the first firm in Thailand to launch a spot Bitcoin exchange-traded fund (ETF) limited to wealthy and institutional investors.
Thailand SEC Approves First Bitcoin Fund
The fund has a policy of investing in 11 leading global funds, custody of cryptocurrencies using international standards to ensure liquidity and safety, and has been reviewed by international regulatory bodies in the US and Hong Kong.
Meanwhile, MFC Asset Management continues to await SEC approval for a Bitcoin ETF also limited to wealthy and institutional investors.
“Digital assets are an alternative asset with low correlation with other financial assets. They are suitable to help investors diversify their investment risks,” said Pote Harinasuta, CEO of ONEAM.
Bitcoin ETFs are gaining international recognition, particularly from overseas regulators, after the US SEC approved the creation of funds that invest directly in spot Bitcoin through ETFs earlier this year.
In April, the Hong Kong Securities and Futures Commission allowed the establishment of ETFs that invest in both Bitcoin and Ethereum.
*This is not investment advice.