Thailand has approved launching its first spot Bitcoin exchange-traded fund (ETF), joining a growing list of countries embracing regulated Bitcoin investment vehicles.
BREAKING: 🇹🇭 Thailand SEC approves the first spot #Bitcoin ETF. pic.twitter.com/ju1q83JvVP
— Bitcoin Magazine (@BitcoinMagazine) June 4, 2024
The Thai Securities and Exchange Commission (SEC) endorsed asset manager One Asset Management (ONEAM) to introduce a Bitcoin ETF, according to the Bangkok Post. The ONE Bitcoin ETF Fund is scheduled to be distributed between May 31 and June 6
Under the Thai SEC’s rules, the ETF will be limited to wealthy and institutional investors. This follows the regulator amending local guidelines in April to permit restricted Bitcoin ETFs targeting professional investors.
ONEAM will invest the fund in 11 major global Bitcoin funds to ensure adequate liquidity and security. The company said the ETF provides exposure to Bitcoin in a regulated framework, addressing risks like
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