The Thailand Securities and Exchange Commission (SEC) has given the green light to the country's first Bitcoin spot ETF, provided by One Asset Management.
This development is part of a growing global trend, with other countries like the United States and Australia also launching Bitcoin spot ETFs earlier this year.
Approval of One Asset Management's BTC Spot ETF
The Thailand Securities and Exchange Commission (SEC) has approved Thailand's first Bitcoin spot ETF, according to a report by the Bangkok Post.
The newly approved Bitcoin spot ETF, provided by asset management firm One Asset Management (ONEAM), is named "ONE-BTCETFOF-UI" and is scheduled to be launched by June 6, 2024.
However, this Bitcoin spot ETF will be exclusively available to wealthy individuals and institutional investors. Similarly, another Bitcoin ETF from MFC Asset Management, which is currently awaiting approval, will also be limited to qualified investors.
With the launch of One Asset Management's Bitcoin spot ETF, qualified investors will have the opportunity to profit from Bitcoin's price fluctuations without the need to directly purchase and hold Bitcoin.
Earlier this year, Bitcoin spot ETF trading began in the United States. Since then, other countries have also started offering Bitcoin spot ETFs. Recently, Australia launched its first Bitcoin spot ETF, suggesting that this trend may continue to expand globally.
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