BREAKING NEWS!
Thailand Breaks Ground by Approving First Spot Bitcoin ETF.
Thailand has made a ground-breaking move by approving its first spot Bitcoin ETF. The Thai Securities and Exchange Commission (SEC) has authorized One Asset Management (ONEAM) to launch the ONE Bitcoin ETF Fund of Funds Unhedged, as reported by the Bangkok Post. Available for distribution between May 31 and June 6, this ETF is restricted to wealthy and institutional investors and carries an investment risk level of eight.
This approval follows a recent amendment by the Thai SEC, allowing local asset management firms to offer Bitcoin ETFs. While ONEAM has received approval, MFC Asset Management is still awaiting regulatory clearance for its own Bitcoin ETF.
This development is a positive signal for crypto investors, potentially boosting Bitcoin prices and reflecting increased acceptance and legitimacy of cryptocurrency in Thailand's financial system.
