Thailand is currently considering allowing Bitcoin exchange traded funds (ETFs) to be listed on local exchanges. This initiative could pave the way for both retail and institutional investors to gain exposure to Bitcoin in the country.
Wide accessibility with local Bitcoin ETF
The Securities and Exchange Commission of Thailand (SEC), under the leadership of Secretary-General Polnanon Budsaratragon, is actively exploring mechanisms to make Bitcoin ETF investing more accessible. According to Bloomberg, the move is part of Thailand’s strategy to adapt to the global adoption of cryptocurrencies.
In a significant move in June 2024, the SEC approved the country’s first Bitcoin ETF aimed at professional investors. Developed by One Asset Management (ONEAM), the ETF operates as a “fund of funds” that gives investors indirect exposure to Bitcoin by investing in 11 prominent global Bitcoin funds. I am. This structure is designed to reduce the risks typically associated with directly holding volatile cryptocurrencies. However, access to this ETF is limited to accredited and institutional investors.
We need to adapt and offer investors more crypto asset choices while ensuring adequate protection.
The proposal to list a Bitcoin ETF on a local exchange reflects a shift in focus towards broader market access. This development aims to consolidate Thailand’s position as a leader in digital asset innovation in the Asia-Pacific region. Speaking about this evolution, Pornanon emphasized the need for Thailand to keep pace with the global trend of increasing adoption of cryptocurrencies. “We need to adapt and offer investors more crypto asset choices while ensuring appropriate protection,” she said on Tuesday.
Thailand considers approving local Bitcoin ETF amid global competition: Bloomberg https://t.co/Q2hVUoBxpV
— The Block (@TheBlock__) January 15, 2025
In addition to ETFs, the SEC is considering other measures to expand access to digital and traditional financial markets. One such initiative includes the introduction of stablecoins backed by government or corporate bonds, further diversifying the financial products available to Thai investors.
Gulf Binance supports Thailand’s Bitcoin sandbox pilot
Meanwhile, Binance’s Thai subsidiary Gulf Binance has expressed support for the Bitcoin Sandbox pilot project proposed by Prime Minister Thaksin Shinawatra. The initiative, which aims to establish Phuket as a center of Bitcoin experimentation, has attracted attention from industry insiders. Gulf Binance CEO Nirun Hwatananukul hailed the proposal as a pivotal move for Thailand’s digital economy. He pointed out that this initiative is in line with global trends in cryptocurrency adoption and shows that Thailand is ready to embrace innovative technology.
“This initiative not only highlights the growing momentum of cryptocurrency adoption, but also highlights the commitment of top leaders to integrating these technologies into the economy,” Nirn said. Ta. He further emphasized the importance of Thailand remaining competitive as digital assets gain momentum around the world.
Digital asset trading is experiencing significant growth in Thailand. By November 2024, approximately 270,000 active cryptocurrency trading accounts were reported, indicating growing interest and participation in the market. Thailand’s push for a local Bitcoin ETF and other crypto-friendly policies marks a notable step in its efforts to become a major player in the global digital asset landscape.
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