Thailand Unlocks Crypto Gateway with Pioneering Bitcoin ETF Launch

June 4, 2024 at 03:43 PM GST 2 mins read Bitcoin News

Thailand approves first Bitcoin ETF, signaling crypto mainstream adoption.
ETF offers exposure to global Bitcoin funds, ensuring liquidity and security.
Combining Bitcoin with traditional assets can boost returns while reducing risk-adjusted performance.

Thailand’s Securities and Exchange Commission (SEC) has approved the country’s first Bitcoin exchange-traded fund (ETF), marking a major step towards the country’s adoption of cryptocurrency. With this move, Thailand establishes itself as a leader in leveraging the growing market for digital assets.

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One Asset Management (ONEAM) has taken advantage of the situation by launching a Bitcoin exchange-traded fund (ETF) designed for institutional and wealthy investors.

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

The ONE-BTCETFOF-UI fund provides exposure to eleven of the top Bitcoin funds globally, guaranteeing liquidity and abiding by strict international storage regulations and regulatory compliance. However, retail investors will not be able to access the fund’s initial offering, which takes place between May 31 and June 6.

According to ONEAM CEO Pote Harinasuta, digital assets are vital for assisting in spreading out investment risks. He also argues that combining Bitcoin with conventional assets could increase expected returns while decreasing risk-adjusted performance.

Despite the fact that Bitcoin is still a very volatile asset, Harinasuta emphasized the fund’s capacity to mitigate a major worry for investors which is safe storage of their assets. Investing directly raises risks like data breaches and theft that ETFs avoid by using institutional-grade offline custody.

Following U.S. SEC approvals, crypto ETFs are becoming more popular globally. Thailand’s innovative move indicates a significant change in the country’s attitude toward digital assets.

The Bitcoin ETF opens the door to wider acceptance and adoption by providing a regulated and secure investment space. This move will open up new possibilities for portfolio diversification and possible growth prospects in Thailand.