Spot Bitcoin ETFs turned down by Thai SEC, investors eye global markets

Thailand’s SEC has declined to allow trading of spot Bitcoin ETFs, citing that foreign-approved Bitcoin ETFs are still in nascent stages and may not align with the economic needs of the Thai market.

The US securities market regulator’s recent approval of 11 Bitcoin exchange-traded funds (ETFs) has not swayed the Thai Securities and Exchange Commission to follow suit.

The Thai regulator remains cautious, believing these ETFs, which have gained traction in foreign markets, may not be suitable for the Thai economic landscape at this stage.

A report by Bangkok Post highlighted the Thai SEC’s stance. “We are monitoring these developments, but currently, there is no plan to permit the establishment of spot Bitcoin ETFs in Thailand,” said a representative from the Thai SEC.

Despite this, Thai securities brokerages are encouraging investors to consider investing in US-based Bitcoin ETFs. The Thai SEC, however, emphasizes that investment advice provided to clients must be appropriate and in line with products available in Thailand.