Thailand’s foray into the world of cryptocurrency just took a significant leap as the nation green-lights its maiden Bitcoin exchange-traded fund (ETF). One Asset Management (ONEAM) has emerged victorious in securing approval from the Thai Securities and Exchange Commission (SEC) to roll out this innovative financial instrument. The ETF, dubbed the ONE Bitcoin ETF Fund of Funds Unhedged, is slated for distribution between May 31 and June 6, marking a milestone in the country’s crypto investment landscape.
However, this newfound avenue for investment comes with a caveat. Access to the Bitcoin ETF is exclusively reserved for affluent and institutional investors, as per the regulatory directives. With a risk level pegged at eight, potential investors are cautioned about the volatility inherent in cryptocurrency markets.
According to Bangkok Post, the Thai SEC approved local asset management company One Asset Management to launch Thailand's first Bitcoin ETF, which is limited to wealthy and institutional investors. The fund's policy is to invest in 11 leading global funds and has passed…
— Wu Blockchain (@WuBlockchain) June 4, 2024
The approval of ONEAM’s Bitcoin ETF follows a strategic amendment by the Thai SEC, allowing local asset management firms to venture into private funds offering cryptocurrency-based ETFs. Notably, this regulatory shift underscores Thailand’s bid to align with global standards while fostering innovation in its financial ecosystem.
The ONE Bitcoin ETF Fund of Funds Unhedged stands out for its commitment to adhering to international norms, boasting investments in 11 global funds to ensure liquidity and security. Moreover, stringent measures are in place to uphold the storage of cryptocurrencies to the highest standards, as attested by regulatory scrutiny from the US and Hong Kong.
Pote Harinasuta, CEO of ONEAM, champions the diversification potential offered by digital assets amidst a backdrop of surging demand. While acknowledging the allure of Bitcoin’s growth prospects, Harinasuta advises a cautious approach, recommending a modest 5 percent allocation of one’s portfolio to Bitcoin to mitigate volatility.
