Thailand, known for its progressive financial regulations, has taken a significant step in cryptocurrency by approving its first Bitcoin ETF. One Asset Management has become part of the growing list of jurisdictions embracing regulated Bitcoin funds. The Thai Securities and Exchange Commission (SEC) has endorsed asset manager One Asset Management (ONEAM) to introduce a Bitcoin ETF. The ONE Bitcoin ETF Fund will be distributed between May 31 and June 6.
Thailand’s regulatory process for Bitcoin ETFs aims to protect investors by limiting the ETF to wealthy and institutional investors. This measure was introduced in April to allow restricted Bitcoin ETFs for professional investors. ONEAM’s Bitcoin ETF Fund stands out for its unique investment strategy. It will invest in 11 significant global Bitcoin funds, ensuring liquidity and security. The ETF offers exposure to Bitcoin within a regulated framework, mitigating risks such as theft associated with direct ownership. While ONEAM obtained approval, fellow Thai firm MFC Asset Management is still awaiting regulatory clearance for its planned Bitcoin ETF product.
Both will be private offerings for qualified investors only. Thailand follows the path blazed by the US SEC, which approved several Bitcoin ETFs in January, sparking interest. Other jurisdictions, such as Hong Kong, Australia, and the UK, have since issued spot Bitcoin ETFs or similar products. These launches provide easy, regulated exposure to Bitcoin’s price movements without needing to handle Bitcoin directly, better accommodating professional investors and institutions. By approving a Bitcoin ETF, Thailand’s regulators acknowledge the growing demand from local institutions to add Bitcoin allocations. Once public offerings become available, the move could enable broader mainstream adoption.
