Thailand’s Securities and Exchange Commission (SEC) has given its approval for One Asset Management (ONEAM) to launch a spot Bitcoin exchange-traded fund (ETF) exclusively for wealthy and institutional investors. This makes ONEAM the first company in Thailand to offer such a fund.
The Bitcoin ETF by ONEAM will invest in 11 leading global funds and will follow international standards for the custody of cryptocurrencies, ensuring liquidity and safety. The fund has also been reviewed by regulatory bodies in the US and Hong Kong.
Meanwhile, MFC Asset Management is still awaiting approval from the SEC for its own Bitcoin ETF, which will also be limited to wealthy and institutional investors.
The growing popularity of Bitcoin ETFs has gained recognition from international regulators, especially after the US SEC approved funds that directly invest in spot Bitcoin through ETFs earlier this year. In April, the Hong Kong Securities and Futures Commission also allowed the establishment of ETFs that invest in both Bitcoin and Ethereum.
According to Pote Harinasuta, the CEO of ONEAM, digital assets like Bitcoin are alternative assets that have a low correlation with traditional financial assets. They provide investors with the opportunity to diversify their investment risks.
Please note that this article does not constitute investment advice. To invest in over 300 cryptocurrencies, you can register with Binance exchange and receive a 20% commission discount. For exclusive news, analytics, and on-chain data, you can follow our Telegram and Twitter accounts.
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