Thailand permits private funds to invest in U.S. spot Bitcoin ETFs, but there is a condition.
Thailand is embracing a new era of cryptocurrency investment with the SEC greenlighting private funds to invest in U.S. spot Bitcoin ETFs. However, this opportunity comes with a significant caveat – only institutional investors and ultra-high-net-worth individuals will be permitted to participate.
The SEC's decision follows the U.S. regulator's approval of spot Bitcoin ETFs in January, redefining Bitcoin ETFs as securities under Thai regulations. SEC Secretary-General Pornanong Budsaratragoon emphasized the need for caution due to the high risks associated with digital assets.
"Asset management firms asked the SEC for them to have exposure in digital assets, especially Bitcoin and spot Bitcoin ETFs," Budsaratragoon told the Bangkok Post. "But we need to consider carefully whether to allow asset management firms to invest in digital assets directly due to the high risk."
While this move unlocks new avenues for institutional cryptocurrency investment, it underscores Thailand's cautious approach toward retail investors. The country's crypto trading landscape remains restrictive, with a ban on digital asset payments since March 2022 and prohibitions on crypto lending and investment instituted last July.
