First Spot Bitcoin Exchange-Traded Fund in Thailand
Thailand has authorized its first spot Bitcoin exchange-traded fund (ETF). This initiative is led by the Thai Securities and Exchange Commission (SEC) and managed by One Asset Management (ONEAM).
ONE Bitcoin ETF Fund Availability Period
The ONE Bitcoin ETF Fund, which focuses on wealthy and institutional investors, will be available from May 31 to June 6. This move follows the SEC's update of local regulations in April, allowing the launch of Bitcoin ETFs targeting professional investors.
Investment strategy of the ONE Bitcoin ETF
The ONE Bitcoin ETF will invest in 11 leading global Bitcoin funds to ensure liquidity (the availability of funds) and security, providing investors with regulated exposure to Bitcoin while mitigating risks such as theft associated with direct ownership.
Further Bitcoin ETF developments in Thailand
While ONEAM has received SEC approval, another Thai company, MFC Asset Management, is still awaiting approval for a similar Bitcoin ETF product. This development puts Thailand in line with other nations such as the US, Hong Kong, Australia and the UK that have recently approved spot Bitcoin ETFs.
Importance of Spot Bitcoin ETFs in the investment world
These products are aimed at professional investors and institutions, providing a simple and regulated way to invest in Bitcoin without having to handle the cryptocurrency yourself. The Thai SEC's approval reflects local institutional demand for Bitcoin and paves the way for possible widespread adoption in the future.