Thailand is reportedly considering licensing its first Bitcoin (BTC)-based Exchange-Traded Fund (ETF), as part of efforts to make the country a digital asset hub in the Asia-Pacific region.
Secretary-General of Thailand's Securities and Exchange Commission (SEC) Pornanong Budsaratragoon said both individuals and institutions may be given investment access to local Bitcoin ETFs.
It is known that currently, Thailand already has a fund-of-funds product from One Asset Management which was launched in June 2024. The product offers exposure to overseas Bitcoin ETFs, but until now there has been no regulation that allows direct investment in cryptocurrencies.
"Like it or not, we have to follow the trend of global adoption of crypto currency," Pornanong said in an interview with Bloomberg, Tuesday (15/01).
On the other hand, support for digital assets in Thailand is indeed increasingly visible, especially with the proposal to issue a stablecoin backed by government bonds. In fact, Pheu Thai Party cadre Thaksin Shinawatra suggested that this stablecoin be accessible to both retail and institutional investors.
