March 14, 2024

Thailand’s SEC Opens Doors to Crypto ETFs for Institutional and High-Net-Worth Investors

In a significant shift, Thailand's SEC grants access to crypto ETFs for institutional and wealthy investors, reversing an earlier denial on bitcoin ETF trading.

Thailand's Securities and Exchange Commission (SEC) has announced a landmark decision, permitting institutional investors and high-net-worth individuals to participate in crypto exchange-traded funds (ETFs).

According to Pornanong Budsaratragoon, the SEC's Secretary-General, asset managers are now allowed to invest in spot bitcoin ETFs on U.S. exchanges. Notably, spot bitcoin ETFs are categorized as securities under the SEC Act, enabling Thai securities firms to engage in these investments. The SEC is also considering extending this opportunity to individual investors in the future.

Pornanong stated:

"Asset management firms asked the SEC for them to have exposure in digital assets, especially bitcoin and spot bitcoin ETFs, but we need to consider carefully whether to allow asset management firms to invest in digital assets directly due to the high risk."

This decision marks a departure from the SEC's stance in January 2024, when it initially rejected the idea of asset management firms launching spot bitcoin ETFs. Until now, individuals were limited to investing in digital assets solely through registered local exchanges.

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