Bitcoin ETFs continue to gain ground and now it is Thailand’s turn.
Thailand’s Securities and Exchange Commission (SEC) has authorized a first Bitcoin-based ETF, opening the door to a new regulated cryptocurrency investment vehicle.
One Asset Management (ONEAM) will become the first company in the country to launch such a fund after gaining regulatory approval, local media outlet Bangkok Post reported.
It will be called ONE Bitcoin
ETF Fund of Funds Unhedged and not for Retail Investors (ONE-BTCETFOF-UI), the fund will be aimed exclusively at institutional and high net worth investors.
According to the report, the ETF follows a policy of investing in 11 leading global funds to ensure liquidity and robustness. It also holds currencies to international standards and has been reviewed by international regulators in the U.S. and Hong Kong. The report adds that dissemination is expected to begin between May 31 and June 6.
Pote Harinasuta, CEO of ONEAM, spoke in favor of cryptocurrencies noting them as an alternative asset class with low correlation to other financial assets, making them ideal for diversifying investment risks. He noted that although they have high volatility, over the years they have also shown high returns.
“Although Bitcoin supply is limited to 21 million, demand is growing as it gains popularity. We see great potential for Bitcoin to expand,” commented Harinasuta.
Bitcoin ETFs open up to international markets
Spot Bitcoin ETFs, being a type of traditional exchange-traded financial vehicle, provide easy and regulated exposure to Bitcoin’s value movements relative to its price. This is more suitable for professional investors and institutions.
Thailand is the most recent country to open the door to this type of Bitcoin-based physical product. Last January, the US SEC approved a first batch of spot Bitcoin ETFs. The group’s performance has been quite good, accumulating combined capital inflows of more than $13 billion since its launch in early 2024.
Subsequently, regulators in Hong Kong and Australia have also authorized the listing of these funds on local exchanges. On Tuesday, the first ETF holding Bitcoin will begin trading directly on the exchange in Australia. Meanwhile, Hong Kong is already offering six spot ETFs, split between three Bitcoin and three Ethereum ETFs.
U.S. regulators approved the first spot Ethereum ETFs in the country this year, and issuers are starting to market them in Hong Kong.
Meanwhile, in Thailand, MFC Asset Management is awaiting SEC approval for its own Bitcoin ETF, which will also be restricted to institutional and high net worth investors.
