Thailand's Securities and Exchange Commission [SEC] has introduced the country's inaugural Bitcoin exchange-traded fund [ETF], signaling the increasing embrace of cryptocurrencies in the mainstream. This significant step represents a milestone for the cryptocurrency sector and the overall investment environment in Thailand.
Reports indicate that One Asset Management [ONEAM] is leading the way in this field by being granted approval to launch the initial Bitcoin ETF for wealthy and institutional investors. The ONE-BTCETFOF-UI fund is scheduled to run from May 31 to June 6, providing investors with an opportunity to expand their investment portfolios into the realm of digital assets.
Pote Harinasuta, the Chief Executive of ONEAM, highlighted the reasoning behind the introduction of this vehicle. He pointed out that digital assets such as Bitcoin provide investors with a distinctive chance to broaden their investment portfolios. Additionally, he mentioned,
“Digital assets are an alternative asset that has low correlation with other financial assets. They are suitable to help investors diversify investment risks. Although the supply of Bitcoin is limited at 21 million, demand is rising as it gains popularity. We see high growth potential for Bitcoin.”
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