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Thai SEC Approves First Spot Bitcoin ETF for Ultra High Net-Worth Individuals

Thai SEC Approves First Spot Bitcoin ETF


Nearly three months after easing restrictions on crypto asset investments, One Asset Management (ONEAM) has received approval from the Securities and Exchange Commission (SEC) of Thailand to launch the country’s first spot Bitcoin ETF (Exchange Traded Fund).

This ETF is exclusively available to institutional investors and ultra-high-net-worth individuals.

The ETF, named ONE Bitcoin ETF Fund of Funds Unhedged and Not For Retail Investors (ONE-BTCETFOF-UI), will be available from May 31 to June 6 and carries an investment risk rating of eight.

Meanwhile, MFC Asset Management, another Thai fund management company, is awaiting the SEC’s approval for its Bitcoin ETF.

Crypto asset ETFs are gaining global recognition following the US regulator’s approval of the first ETFs tracking bitcoin earlier this year. On April 30, Hong Kong Exchanges and Clearing Limited (HKEX) launched Asia’s first Spot Virtual Asset ETFs.

Additionally, insiders suggest that the Australian Securities Exchange (ASX) is likely to approve the inaugural spot Bitcoin ETFs by the end of 2024. – Real-time Forex News and the latest trading updates.

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