Thai SEC Greenlights First Spot Bitcoin ETF

Nearly three months after the relaxation of restrictions on crypto asset investments​, One Asset Management (ONEAM) has received approval from the Securities and Exchange Commission (SEC) of Thailand, becoming the first company to launch a spot Bitcoin ETF (Exchange Traded Fund) in the country. This ETF is limited to institutional investors and ultra-high-net-worth individuals.

The ETF, named ONE Bitcoin ETF Fund of Funds Unhedged and Not For Retail Investors (ONE-BTCETFOF-UI), is set to be distributed between May 31 and June 6, with an investment risk rating of eight.

In the meantime, MFC Asset Management, another Thai fund management company, is in anticipation of the SEC's approval for its Bitcoin ETF.

Crypto asset ETFs are gaining global recognition following the US regulator's approval of the first ETFs tracking bitcoin earlier this year. On April 30, Hong Kong Exchanges and Clearing Limited (HKEX) unveiled the debut of Asia's premier Spot Virtual Asset ETFs. Additionally, insiders suggest that the Australian Securities Exchange (ASX)​ is likely to green light the inaugural spot-Bitcoin ETFs by the end of 2024.