{"id":25634,"date":"2024-06-04T11:02:28","date_gmt":"2024-06-04T11:02:28","guid":{"rendered":"https:\/\/bitcoins-101.com\/2024\/06\/04\/thailand-approves-the-first-spot-bitcoin-etf\/"},"modified":"2024-06-04T11:02:28","modified_gmt":"2024-06-04T11:02:28","slug":"thailand-approves-the-first-spot-bitcoin-etf","status":"publish","type":"post","link":"https:\/\/bitcoins-101.com\/2024\/06\/04\/thailand-approves-the-first-spot-bitcoin-etf\/","title":{"rendered":"Thailand Approves the First Spot Bitcoin ETF"},"content":{"rendered":"<p>Thailand has approved launching its first spot <a href=\"https:\/\/bitcoinmagazine.com\/guides\/best-bitcoin-only-exchanges\">Bitcoin exchange<\/a>-traded fund (ETF), joining a growing list of countries embracing regulated Bitcoin investment vehicles.<\/p>\n<p>BREAKING: \ud83c\uddf9\ud83c\udded Thailand SEC approves the first spot <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> ETF. <a href=\"https:\/\/t.co\/ju1q83JvVP\">pic.twitter.com\/ju1q83JvVP<\/a><\/p>\n<p>\u2014 Bitcoin Magazine (@BitcoinMagazine) <a href=\"https:\/\/twitter.com\/BitcoinMagazine\/status\/1797926469509038476?ref_src=twsrc%5Etfw\">June 4, 2024<\/a><\/p>\n<p>The Thai Securities and Exchange Commission (SEC) endorsed asset manager One Asset Management (ONEAM) to introduce a <a href=\"https:\/\/bitcoinmagazine.com\/tags\/bitcoin-etf\">Bitcoin ETF<\/a>, according to the <a href=\"https:\/\/www.bangkokpost.com\/business\/investment\/2804674\/thai-sec-approves-first-bitcoin-fund\">Bangkok Post<\/a>. The ONE Bitcoin ETF Fund is scheduled to be distributed between May 31 and June 6<\/p>\n<p>Under the Thai SEC&#8217;s rules, the ETF will be limited to wealthy and institutional investors. This follows the regulator amending local guidelines in April to permit restricted Bitcoin ETFs targeting professional investors.<\/p>\n<p>ONEAM will invest the fund in 11 major global Bitcoin funds to ensure adequate liquidity and security. The company said the ETF provides exposure to Bitcoin in a regulated framework, addressing risks like theft that come with direct ownership.<\/p>\n<p>While ONEAM obtained approval, fellow Thai firm MFC Asset Management still awaits regulatory clearance for its own planned Bitcoin ETF product. Both will be private offerings for qualified investors only.<\/p>\n<p>Thailand follows the trail blazed by the US SEC, <a href=\"https:\/\/bitcoinmagazine.com\/markets\/approved-spot-bitcoin-etfs-to-trade-on-us-markets-in-historic-milestone\">which approved several Bitcoin ETFs<\/a> this January, sparking surging interest. Other jurisdictions, such as Hong Kong, <a href=\"https:\/\/bitcoinmagazine.com\/business\/australias-first-spot-bitcoin-etf-to-begin-trading-tomorrow\">Australia<\/a>, and <a href=\"https:\/\/bitcoinmagazine.com\/business\/bitcoin-etps-get-approval-to-list-on-the-london-stock-exchange\">the UK<\/a>, have since followed suit in issuing spot Bitcoin ETFs or similar products.<\/p>\n<p>The launches provide easy, regulated exposure to Bitcoin&#8217;s price movements without the need to handle Bitcoin directly. This better accommodates professional investors and institutions<\/p>\n<p>By approving a Bitcoin ETF, <a href=\"https:\/\/bitcoinmagazine.com\/tags\/thailand\">Thailand&#8217;s<\/a> regulators acknowledge the growing demand from local institutions to add Bitcoin allocations. The move could enable broader mainstream adoption once public offerings become available.<\/p>","protected":false},"excerpt":{"rendered":"<p>Thailand has approved launching its first spot Bitcoin exchange-traded fund (ETF), joining a growing list of countries embracing regulated Bitcoin investment vehicles. BREAKING: \ud83c\uddf9\ud83c\udded Thailand SEC approves the first spot #Bitcoin ETF. pic.twitter.com\/ju1q83JvVP \u2014 Bitcoin Magazine (@BitcoinMagazine) June 4, 2024 The Thai Securities and Exchange Commission (SEC) endorsed asset manager One Asset Management (ONEAM) to [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-25634","post","type-post","status-publish","format-standard","hentry","category-crypto-news"],"_links":{"self":[{"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/posts\/25634"}],"collection":[{"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/comments?post=25634"}],"version-history":[{"count":0,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/posts\/25634\/revisions"}],"wp:attachment":[{"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/media?parent=25634"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/categories?post=25634"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoins-101.com\/wp-json\/wp\/v2\/tags?post=25634"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}