Breaking: Thailand SEC Approves First Spot Bitcoin ETF

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As an experienced financial analyst, I am thrilled to see Thailand’s Securities and Exchange Commission (SEC) take a progressive step forward in approving the first spot Bitcoin Exchange-Traded Fund (ETF). This landmark decision marks a significant milestone for the mainstream adoption of digital assets within Thailand, providing investors with a regulated and accessible avenue to gain exposure to Bitcoin.

As a crypto investor, I’m thrilled to announce that the Thailand Securities and Exchange Commission (SEC) has given its green light to the country’s first Spot Bitcoin Exchange-Traded Fund (ETF). This groundbreaking decision represents a major leap forward for the acceptance of digital assets in Thailand, offering investors a legally sanctioned and uncomplicated avenue to invest in Bitcoin. The approval of this ETF is poised to create ripples both locally and internationally, symbolizing increasing institutional trust and regulatory endorsement for Bitcoin and other cryptocurrencies.

ONEAM Leads the Charge with Bitcoin ETF

The Securities and Exchange Commission (SEC) has given its approval for One Asset Management (ONEAM) to introduce Thailand’s first Bitcoin exchange-traded fund (ETF), catering to affluent and institutional investors. The ONE Bitcoin ETF Fund of Funds Unhedged, which is not intended for retail investors, will be accessible from May 31 to June 6. This investment product carries a risk level of eight. The fund aims to pool resources into eleven prominent global funds to ensure liquidity and security. Custody of the Bitcoin coins will conform to international standards and undergo regulatory oversight in the United States and Hong Kong.

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Regulatory Amendments and Investment Insights

Thailand’s Securities and Exchange Commission (SEC) previously announced modifications enabling asset management companies to initiate private funds focused on investing in U.S. Bitcoin Exchange-Traded Funds (ETFs). This move comes after the U.S. SEC gave the green light for Bitcoin ETF trading on January 11. The SEC secretary-general, Pornanong Budsaratragoon, underscored the inherent risks of such investments despite escalating institutional interest.

Pote Harinasuta emphasized Bitcoin’s potential for substantial gains, pointing out an average annual return of approximately 124% over the previous eleven years. However, he cautioned that this came with significant volatility, averaging at around 83%. Therefore, he recommended investors allocate no more than 5% of their portfolio to Bitcoin, aiming for a yearly return of 8.90%. He underlined the safety of investing via ETFs, as custodians securely store unitholders’ data and coins offline, thereby shielding them from risks like data loss or theft that have been prevalent in direct investments on various platforms.

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2024-06-04 13:48