Thailand has embraced the Bitcoin exchange-traded fund (ETF) trend, granting approval to One Asset Management (ONEAM) for the launch of a Bitcoin ETF, as per the Bangkok Post. However, the accessibility of this instrument will be restricted to affluent and institutional investors.
Dubbed the ONE Bitcoin ETF Fund of Funds Unhedged, the ETF, endorsed by the Thai Securities and Exchange Commission (SEC), is set to roll out between May 31 and June 6. Sporting an investment risk level of eight, it follows amendments to local regulations allowing asset management firms to introduce private funds offering Bitcoin ETFs, albeit exclusively catering to high-net-worth and institutional investors.
While ONEAM has secured approval, MFC Asset Management awaits regulatory clearance for its Bitcoin ETF.
Maintaining adherence to global standards, the inaugural Thai Bitcoin ETF opts to invest in 11 global funds to ensure liquidity and safety, adhering to international cryptocurrency storage protocols. Notably, regulatory agencies in the US and Hong Kong vetted the Thai fund before its approval.
Digital assets are an alternative asset that has a low correlation with other financial assets. They are suitable to help investors diversify investment risks,Although the supply of Bitcoin is limited to 21 million, demand is rising as it gains popularity. We see high growth potential for Bitcoin.
Pote Harinasuta, ONEAM’s CEO
Thailand joins several jurisdictions in offering Bitcoin ETFs, with the US taking the lead earlier this year, where eleven Bitcoin ETFs are now listed on stock exchanges, with expectations for Ethereum ETF listings in the near future.
