Saha Swatilakha
Thailand has entered the growing global Bitcoin ETF market by approving One Asset Management (оNEAM) to launch a Bitcoin ETF. This new financial instrument, known as the ONE Bitcoin ETF Fund of Funds Unhedged, marks a significant step for Thailand’s financial market and is set to be available exclusively to institutional investors.
The Thai Securities and Exchange Commission (SEC) has sanctioned the distribution of the ONE Bitcoin ETF from May 31 to June 6, 2024. This ETF comes with an investment risk level of eight, indicating a high-risk profile typical of cryptocurrency investments.
This approval follows the Thai SEC’s recent amendments to local regulations, which now permit local asset management firms to create private funds offering Bitcoin ETFs. However, these offerings remain restricted to institutional investors, reflecting a cautious approach by the regulatory body.
Related: Industry Celebrates the New $70M Domain Mogul But His Crypto Shadows Linger
ONEAM’s Bitcoin ETF is designed to invest in 11 global funds, a strategy aimed at ensuring both liquidity and safety. The fund also emphasizes the secure storage of cryptocurrencies, adhering to international standards.
Thailand’s move to approve Bitcoin ETFs aligns it with other major financial hubs such as Hong Kong, the United Kingdom, and the United States, where Bitcoin ETFs have gained significant traction. The approval of Bitcoin ETFs in the U.S. earlier this year helped propel these instruments into the mainstream, signaling wider acceptance and integration of cryptocurrencies in traditional finance.
Related: Crypto Titans Bunker Down Now: Vitalik’s Austerity Vow, Binance $1B Bitcoin Shield
Read More
- UK Approves Bitcoin and Ethereum ETFs for London Stock Exchange Listing
- Australia to Launch Its First Spot Bitcoin ETF Tuesday
- Hong Kong’s Crypto ETFs Make a Mark in the Global Market
SAHA
Saha is a cryptocurrency journalist specializing in blockchain technology and digital finance.
