tl;dr
The Thailand Securities and Exchange Commission (SEC) has approved the country’s first spot Bitcoin Exchange-Traded Fund (ETF), marking a significant milestone in the mainstream adoption of digital assets within Thailand. The approved ETF, led by One Asset Management (ONEAM), targets wealthy and ins...
Thailand's Securities and Exchange Commission (SEC) has approved the country's first spot Bitcoin Exchange-Traded Fund (ETF), marking a significant milestone in the mainstream adoption of digital assets within Thailand. The approved ETF, led by One Asset Management (ONEAM), targets wealthy and institutional investors and is designed to invest in 11 leading global funds, adhering to international standards.
Additionally, Pote Harinasuta, chief executive of ONEAM, emphasized Bitcoin's potential for high returns, advising investors to limit Bitcoin exposure to 5% of their portfolio and aiming for a return of 8.90% per year.
The SEC's regulatory amendments align with the global trend of increased investor confidence in Bitcoin ETFs. This move is expected to have wide-reaching implications for both the local and global crypto markets, signaling growing institutional confidence and regulatory support for Bitcoin and other cryptocurrencies.
The Securities and Exchange Commission (SEC) has endorsed One Asset Management (ONEAM) as the first firm to launch a spot Bitcoin ETF in Thailand, targeting wealthy and institutional investors. The ONE Bitcoin ETF Fund of Funds Unhedged and not for Retail Investors (ONE-BTCETFOF-UI) will be available from May 31 to June 6, with an investment risk level of eight. This fund is designed to invest in 11 leading global funds to ensure liquidity and safety, with coin storage adhering to international standards and reviewed by regulatory agencies in the US and Hong Kong.
Thailand's SEC had earlier announced amendments allowing asset management firms to launch private funds investing in U.S. spot Bitcoin ETFs, following the U.S. SEC's approval of Bitcoin ETF trading on January 11. This decision aligns with the global trend of increased investor confidence in Bitcoin ETFs.
Pote Harinasuta highlighted Bitcoin's potential for high returns, noting an average annual return of 124% over the past 11 years, contrasted with high volatility at 83%. He advised investors to limit Bitcoin exposure to 5% of their portfolio, aiming for a return of 8.90% per year.