Thailand’s One Asset Management Receives Approval to Launch Country’s First Crypto ETF
Thailand’s financial landscape is taking a significant step forward as One Asset Management (ONEAM) becomes the first company to launch an exchange-traded fund (ETF) in the country that offers exposure to cryptocurrencies.
The Thai Securities and Exchange Commission (SEC) has endorsed ONEAM’s Bitcoin ETF, marking a milestone in the country’s evolving regulatory framework for digital assets.
The newly approved fund, named the One Bitcoin ETF Fund of Funds, will exclusively cater to institutional investors and high-net-worth individuals, according to regulatory filings.
Retail investors will be unable to participate in this offering.
the ONE Bitcoin ETF Fund is set to be distributed between 31 May 2024 and 6 June 2024.
It represents the conclusion of regulatory changes made by the SEC in April, which opened the door for restricted Bitcoin ETFs targeting institutional investors.
The move aligns Thailand with other jurisdictions that have already embraced Bitcoin ETFs, such as the United States, Hong Kong, Australia, and the United Kingdom.
According to Bangkok Post, the Thai SEC approved local asset management company One Asset Management to launch Thailand's first Bitcoin ETF, which is limited to wealthy and institutional investors. The fund's policy is to invest in 11 leading global funds and has passed…
— Wu Blockchain (@WuBlockchain) June 4, 2024
ONEAM’s Bitcoin ETF will invest in 11 prominent global Bitcoin funds, ensuring sufficient liquidity and security for investors.
By facilitating exposure to Bitcoin within a regulated framework, the ETF addresses concerns like theft that can arise when individuals hold Bitcoin directly.
This approach provides a more secure and convenient option for institutional investors seeking to
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