Thailand Prepares for Bitcoin ETF Debut

Thailand is witnessing a significant breakthrough in its ambitious vision to establish a digital asset hub. A recent report on Wednesday revealed

Thailand is making great strides towards its goal of becoming a digital asset hub. According to a report on Wednesday, the country is now preparing for the debut of Bitcoin ETFs, allowing local exchanges to list the exchange-traded funds.

Thailand to Allow Local Exchanges to List Bitcoin ETFs

The Thai Securities and Exchange Commission (SEC) is reportedly planning to approve the first Bitcoin exchange-traded fund (ETF) in the country, as part of its broader vision to establish Thailand as a crypto hub, Bloomberg noted in a recent report on January 15.

The move will enable both individual and institutional investors to directly invest in the Bitcoin vehicles, said Pornanong Budsaratragoon, secretary-general of the SEC.

“Like it or not, we have to move along with more adoption of cryptocurrencies worldwide,” Pornanong said in an interview on Tuesday, adding:

“We have to adapt and ensure that our investors have more options in crypto assets with proper protection.”

Thailand has been actively promoting the use of cryptocurrencies, paving the way for the global adoption of digital assets. However, it’s worth noting that one asset management in Thailand has already introduced a fund-of-fund tracking international Bitcoin ETFs, while a direct investment tool is still pending approval.

The ONE Bitcoin ETF Fund of Funds Unhedged and not for Retail Investors (ONE-BTCETFOF-UI) was among the funds approved by the Thai SEC last year.