Thailand SEC considers Bitcoin ETF listing

Thailand's Securities and Exchange Commission (SEC) is evaluating the possibility of allowing local Bitcoin (CRYPTO:BTC) exchange-traded funds (ETFs) to be listed on domestic exchanges.

This initiative aims to enhance investment options for both individual and institutional investors seeking direct exposure to bitcoin.

Pornanong Budsaratragoon, Secretary-General of the SEC, stated that the country must "move along with more adoption of cryptocurrencies worldwide" and adapt to provide investors with more options in crypto assets while ensuring proper protections are in place.

Previously, the SEC permitted asset management firms to launch a fund-of-funds that invests in overseas Bitcoin ETFs for institutional investors.

In June 2024, One Asset Management introduced this fund, which offers indirect exposure to international Bitcoin ETFs but does not allow direct investments in Bitcoin itself.

The potential approval of local Bitcoin ETFs represents a significant shift towards broader market accessibility and aligns with Thailand's ambition to establish itself as a digital asset hub in Asia.

As interest in digital assets grows, Thailand has seen a surge in active trading accounts, reaching approximately 270,000 by November 2024.

This move comes amid increasing competition from neighboring countries like Japan and South Korea, which are also exploring their own crypto ETF approvals.

At the time of reporting, the Bitcoin price was $101,520.