The local listing of bitcoin ETFs is being weighed by the Thailand SEC which would make them accessible to both individuals and institutions.
Thailand SEC Explores Bitcoin ETF Listing
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Thailand Looking to Adopt Bitcoin ETFs
The listing of bitcoin exchange-traded funds (ETFs) is being contemplated by Thailand’s Securities and Exchange Commission (SEC). The Secretary-General of the regulatory body, Pornanong Budsaratragoon, confirmed that if given the green light, the region-specific ETFs will allow both retail investors and institutions to make direct bitcoin investments.
Last June, One Asset Management (ONEAM) was granted permission by Thailand’s SEC to introduce a fund-of-fund bitcoin ETF, which provided exposure to bitcoin ETFs that were listed abroad. Nevertheless, it only permitted wealthy individuals and institutions to make investments.
Since many neighboring Southeast Asian nations have also legalized popular Bitcoin products, a hopeful stance has now arisen with the U.S. spot bitcoin ETFs serving as a huge boost to the industry.
Budsaratragoon stated, “Like it or not, we have to move along with more adoption of cryptocurrencies worldwide. We have to adapt and ensure that our investors have more options in crypto assets with proper protection.”
Additionally, the SEC is thinking of permitting regional companies with excellent credit scores to issue stablecoins backed by their bonds. This would increase accessibility to the corporate debt market and reduce expenses.
Overall, this is another boost to Thailand’s crypto ecosystem after the earlier announcement of a pilot crypto payments initiative in Phuket, making it easy for tourists to pay for goods and services using digital assets.
