United

Bitcoin ETF

Bitcoin

Spot

The approval of spot Bitcoin ETFs in the United States has been one of the most significant developments in the crypto space in recent memory. It helped trigger a bull run which has led to a new all-time price high for the token, has opened the door for more tokens to get their own spot ETFs, and has driven billions of dollars worth of investment into the space.
As such, it comes as no surprise that even investors outside of the US are trying to get in on the action. One of these cases is in Thailand.&nbsp;
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<h2 id="span-style-font-weight-400-thailand-embraces-etfs-span">Thailand Embraces ETFs</h2>
Earlier in March, it was reported that the Securities and Exchange Commission in Thailand has given the green light to asset managers who want to expose institutional investors to the spot Bitcoin ETF in the United States.
This is significant because previously, the SEC had said that it would not approve Bitcoin ETFs in the country. But the demand for the US-based spot ETF has apparently proven to be too strong. Now, eligible firms can offer access to the ETF to institutional and high-net-worth clients. If this move works out, it could lead to other countries within and outside of Asia doing the same.
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<h2 id="span-style-font-weight-400-what-this-means-span">What This Means</h2>
The amount of money that these ETFs have brought in is already impressive but exposure from US markets is about to get a big bump. This, in turn, will have a positive effect on the token’s price and will benefit the non-US investors who can profit from it.&nbsp;
We also have to consider the other ripple effects of this move. Bitcoin is already used for purposes outside of speculative trading. Many use it to gamble on <a href="https://www.business2community.com/th-th/gambling/offshore-casinos" rel="noopener noreferrer nofollow">direct offshore online casinos</a> and a price increase will only make this more prominent. Then there are the other non-investment uses of cryptocurrency such as paying for goods, services, bills, and much more.&nbsp;
These will not only have a positive impact on the price as well but will further increase the use of Bitcoin for other purposes. Should other major tokens like Ether get the same treatment, a precedent will have already been set for <a href="https://www.theasset.com/article/51150/thailands-sec-approves-crypto-etf-investments" rel="noopener noreferrer nofollow">non-US exposure</a> to them.
Even before the approval of the Bitcoin ETF, there had been speculation that it would open the floodgates for other tokens to get the same treatment and this seems to be well underway.
This development also serves to reinforce the legitimacy of the <a href="https://walletinvestor.com/magazine/spot-bitcoin-etf-hits-over-4-5-billion-in-trade-volume-on-first-day" rel="noopener noreferrer nofollow">ETF</a>. One of the reasons why the spot ETF was so heavily pursued for years was that it was seen as a way to push against the narrative of cryptos not being legitimate assets or investment vehicles. Even with the ETF rollout, criticisms still remain but seeing this much interest outside of the US only puts it in a better light.&nbsp;
With the current trajectory, spot ETFs will be made of other tokens beyond just Bitcoin and the interest from around the world will continue.&nbsp;

Thai SEC Approves Exposure to US Spot ETFs

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