Isabella García
Thailand’s top financial authority, the Securities and Exchange Commission (SEC), is evaluating the possibility of allowing Bitcoin exchange-traded funds (ETFs) to list on local stock exchanges, according to Bloomberg. This move could enable both individual and institutional investors to gain direct exposure to the world’s leading cryptocurrency.
In March 2024, Thailand’s SEC permitted asset management firms to launch funds investing in U.S.-based spot Bitcoin ETFs, limited to institutional investors. By June, One Asset Management introduced a fund-of-funds product targeting professional and institutional investors, offering indirect exposure to international Bitcoin ETFs.
Pornanong Budsaratragoon, Secretary-General of the SEC, emphasized the need to align with global trends in cryptocurrency adoption. “As more countries embrace cryptocurrencies, we must adapt to provide investors with diversified options while ensuring proper safeguards are in place,” she remarked.
Previous Stance and Market Developments
While the SEC previously indicated it had no immediate plans to approve spot crypto ETFs domestically, recent developments suggest a shift toward broader adoption.
Thailand has also become a strategic hub for major global exchanges. In January 2024, Binance, in partnership with Gulf Innova, launched Gulf Binance, providing crypto trading services for the general public within the country.
As Thailand navigates evolving regulations in the digital asset landscape, the potential introduction of local Bitcoin ETFs highlights the nation’s effort to balance innovation with investor protection. The SEC’s decisions in the coming months could significantly influence the growth and maturity of Thailand’s cryptocurrency market.
