The Securities and Exchange Commission (SEC) of Thailand approves One Asset Management (ONEAM) to launch the first spot Bitcoin exchange-traded fund (ETF) in the country.
The fund invests in 11 leading global funds and ensures cryptocurrency custody using international standards for liquidity and safety.
MFC Asset Management is still awaiting SEC approval for its own Bitcoin ETF, also intended for wealthy and institutional investors.
Pote Harinasuta, CEO of ONEAM, states that digital assets provide an alternative with low correlation to other financial assets, aiding in risk diversification for investors.
Bitcoin ETFs gain traction globally. The US SEC and Hong Kong regulators have recently approved similar funds, indicating growing international acceptance.
Thailand's SEC has approved the country's first Bitcoin ETF, highlighting increasing global acceptance of cryptocurrency investments.