Thailand's Securities and Exchange Commission (SEC) allows the country's asset managers to launch private equity funds to offer bitcoin exchange-traded funds (ETFs), but the offering is limited to institutional investors and ultra-high net worth investors.。

Bitcoin ETF for Thai Investors

Private funds managed by local asset managers can invest directly in U.S.-listed Bitcoin ETFs, according to reports, and the Thai regulator's board made the decision last week to allow investment restrictions.。

Pornanong Budsaratragoon, secretary-general of the Thai Securities Regulatory Commission, said: "Asset managers have asked the SFC to allow them access to digital assets, especially Bitcoin and spot Bitcoin ETFs, but due to the higher risk, we need to carefully consider whether to allow asset managers to invest directly in digital assets.。"

Bullish Cryptocurrency Market

The decision to open up Bitcoin ETF investment channels comes as the cryptocurrency market is experiencing a bull market。Bitcoin recently hit an all-time high, valued at more than $71,000, and is currently approaching $72,000.。

In the U.S., 11 spot Bitcoin ETFs have been open to all retail and institutional investors since financial market regulators approved them last month, and mainstream financial services giants such as Blackrock and Fidelity are also offering Bitcoin ETFs.。

Under local regulations, Thai securities firms can offer transactions in assets classified as securities。While approving the Bitcoin ETF, U.S. regulators classified the instrument as a security rather than a digital asset, opening up the Bitcoin ETF for Thai securities firms.。

However, Thai regulators were initially skeptical of Bitcoin ETFs。Following the US regulator's decision, the Thai regulator confirmed that it would not allow Bitcoin ETFs to enter the local market, citing that these products are still at a very early stage and that they may not have direct economic value in terms of the appropriateness of the Thai market.。