Thailand Launches Its First Bitcoin ETF

Thailand is set to introduce its first spot Bitcoin exchange-traded fund (ETF), marking a significant step forward in the nation’s embrace of regulated Bitcoin investment vehicles. The Thai Securities and Exchange Commission (SEC) has approved asset manager One Asset Management (ONEAM) to launch the ONE Bitcoin ETF Fund, as reported by the Bangkok Post. This fund is scheduled for distribution from May 31 to June 6.

Following the Thai SEC’s recent amendment to local guidelines in April, the ETF will be accessible exclusively to wealthy and institutional investors. This amendment allows for the creation of restricted Bitcoin ETFs targeting professional investors, aligning with global financial trends toward more regulated cryptocurrency investments.

ONEAM plans to invest the ETF’s resources across 11 major global Bitcoin funds, aiming to ensure adequate liquidity and security for its investors. The company highlights that the ETF offers exposure to Bitcoin within a regulated framework, mitigating risks associated with direct ownership such as theft.

While ONEAM has secured approval, another Thai firm, MFC Asset Management, is still awaiting regulatory clearance for its own Bitcoin ETF product. Like ONEAM’s offering, MFC’s ETF will also be a private offering intended only for qualified investors.

Thailand’s move comes in the wake of similar approvals by the US SEC, which greenlit several Bitcoin ETFs in January, igniting a surge of interest in these products. Other jurisdictions, including Hong Kong, Australia, and the UK, have also entered the fray, launching spot Bitcoin ETFs or comparable products.

These developments make Bitcoin investment more accessible and regulated, providing professional investors and institutions a straightforward way to gain exposure to Bitcoin’s price movements without the complexities of direct handling of the cryptocurrency.

By sanctioning a Bitcoin ETF, Thailand’s regulators are responding to the increasing demand from local institutions to include Bitcoin in their portfolios. This approval is a precursor to broader mainstream adoption, potentially paving the way for public offerings in the future.