Thailand is currently deliberating on allowing Bitcoin exchange-traded funds (ETFs) to be listed on local exchanges. This initiative could pave the way for both individual and institutional investors to gain exposure to Bitcoin within the country.
Broader Accessibility with Local Bitcoin ETFs
The Securities and Exchange Commission (SEC) of Thailand, under the leadership of Secretary-General Pornanong Budsaratragoon, is actively exploring mechanisms to make Bitcoin ETF investments more accessible. According to Bloomberg, this step is part of Thailand’s strategy to adapt to the increasing global adoption of cryptocurrencies.
In a significant move in June 2024, the SEC approved the country’s first Bitcoin ETF targeted at professional investors. Developed by One Asset Management (ONEAM), this ETF operates as a “fund of funds,” granting investors indirect exposure to Bitcoin by investing in 11 prominent global Bitcoin funds. This structure is designed to reduce the risks typically associated with holding the volatile cryptocurrency directly. However, access to this ETF is restricted to accredited and institutional investors.
We must adapt and provide our investors with more crypto asset options while ensuring proper protections
The proposal to list Bitcoin ETFs on local exchanges reflects a shift in focus toward broader market accessibility. This development aims to solidify Thailand’s position as a digital asset innovation leader in the Asia-Pacific region. Speaking on this evolution, Pornanong emphasized the necessity for Thailand to align with the global trend of increasing cryptocurrency adoption. “We must adapt and provide our investors with more crypto asset options while ensuring proper protections,” she stated on Tuesday.
Thailand considers approving local bitcoin ETFs amid global competition: Bloomberg https://t.co/Q2hVUoBxpV
— The Block (@TheBlock__) January 15, 2025
In addition to ETFs, the SEC is examining other measures to expand access to digital and traditional financial markets. One such initiative involves introducing stablecoins backed by government or corporate bonds, further diversifying financial products available to Thai investors.
Gulf Binance Supports Thailand’s Bitcoin Sandbox Pilot
Meanwhile, Binance’s Thai subsidiary, Gulf Binance, has expressed support for a Bitcoin sandbox pilot project proposed by Prime Minister Thaksin Shinawatra. This initiative, aimed at establishing Phuket as a hub for Bitcoin experimentation, has drawn attention from industry stakeholders. Gulf Binance CEO Nirun Fuwattananukul hailed the proposal as a pivotal move for Thailand’s digital economy. He pointed out that this effort aligns with the global trends in crypto adoption and showcases Thailand’s readiness to embrace transformative technologies.
“Not only does this initiative highlight the increasing momentum of crypto adoption, but it also underscores that top leaders are committed to integrating these technologies into the economy,” Nirun remarked. He further emphasized the importance of Thailand staying competitive as digital assets gain traction worldwide.
Digital asset trading has seen substantial growth in Thailand. By November 2024, approximately 270,000 active crypto trading accounts were reported, indicating rising interest and participation in the market. Thailand’s push for local Bitcoin ETFs and other crypto-friendly policies marks a notable step in its journey toward becoming a key player in the global digital asset landscape.
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