Bitcoin ETF

Bitcoin

when

BlackRock

In another major boost for the crypto industry, Thailand’s Securities and Exchange Commission (SEC) decided to launch private funds dedicated to investing in spot <a href="https://news.todayq.com/fomo-etfs-fuel-bitcoin-70k-rally-next-aim-100000/" rel="noopener noreferrer nofollow">Bitcoin exchange-traded funds</a> (ETFs). This move came in when Bitcoin went on to hit its new all time high (ATH) of $72,850. Thai big investors to go after Bitcoin ETF 
According to reports, Thailand’s SEC permission is limited to institutional and high net worth investors. It added that private funds managed by local asset management firms can invest directly in US listed Bitcoin ETFs. This adds a layer of exclusivity to the investment channel.
It is being mentioned that the Thai SEC agreed to take this decision after careful consideration. The watchdog calculated the high risk associated with digital assets, particularly Bitcoin. However, it is expected that this decision will allow asset management firms to explore the digital assets world with a cautious approach.
It is important to note that the decision aligns with the ongoing bullish run in the crypto market. Bitcoin recently surpassed $72,000 and approaching $73,000. BTC price is breaking and making new ATH with a super bullish momentum.
Bitcoin gained more than 75% in the last 90 days, while, its price jumped by 50% over the past 30 days. However, its price has marginally jumped in the last 24 hours. BTC is trading at an average price of $71,813, at the press time. Its 24 hour trading volume is up by 12% to stand at $54 billion. The world’s biggest crypto is holding a market cap of $1.41 trillion now. What’s next? 
The Thai SEC’s decision shows a change in its stance as the watchdog was initially skeptical about Bitcoin ETFs. The US SEC’s classification of these instruments as securities opened the door for Thai securities firms to engage with them.
The US Securities and Exchange Commission (SEC) gave a regulatory green light for 11 spot Bitcoin ETFs at the beginning of January. It is accessible to both retail and institutional investors. This mainly contributes to the broader influx of institutional capital in the market.
Mainstream financial entities like BlackRock and Fidelity entered the space, offering spot BTC ETFs. It is important to note that the ongoing BTC rally has been fueled by factors such as the approval of spot ETFs.
On the other hand, MicroStrategy further contributed to the positive sentiment. The firm purchased 12,000 Bitcoin on Monday using debt.
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Thai investors get nod for Bitcoin ETFs but there’s a catch

Todayq News

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