Thailand Embraces US Bitcoin ETFs for Select Investors

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Thailand’s financial watchdog has greenlit accredited investors to tap into US-based spot Bitcoin ETFs. This regulatory pivot, spearheaded by the Thailand Securities and Exchange Commission (SEC), introduces private funds that specialize in these US exchange-traded products.

The Bangkok Post’s March 12 briefing highlights that this opportunity is tailored for institutional entities and individuals with significant wealth. This strategic decision follows the US securities authority’s nod to spot Bitcoin ETFs earlier this year, recategorizing them as securities in Thai jurisdiction.

SEC secretary-general Pornanong Budsaratragoon underscores the caution exercised in this decision, given the volatile nature of digital asset investments. The SEC’s stance reflects a balanced approach, acknowledging the interests from asset management sectors while prioritizing investor protection.

Despite this development, retail investors are yet to be included in the fold for direct spot Bitcoin ETF investments. The Thai market maintains its cautious stance on broader crypto usage, especially after the 2022 ban on crypto for payments and the 2023 prohibition on cryptocurrencies for lending and investments.

Thailand’s crypto scene continues to thrive with Bitkub, its largest exchange, and the recent entry of Binance, albeit exclusively for Thai nationals. This evolving landscape indicates a growing interest and cautious integration of digital assets within the country’s financial system.

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