Thailand’s SEC Moves Toward Approving Bitcoin ETFs for Local Exchanges

Thailand’s Securities and Exchange Commission (SEC) is considering approval for the country’s first Bitcoin (BTC) exchange-traded fund (ETF). If endorsed, such a move would allow both individual and institutional investors to directly invest in Bitcoin.

Per a Bloomberg report, the SEC plans to permit local exchanges to list Bitcoin ETFs as part of the country’s broader efforts to strengthen its position as a digital asset hub by deeply integrating cryptocurrencies into its financial landscape. It is worth noting that SEC Secretary-General Pornanong Budsaratragoon confirmed the potential approval of the Bitcoin ETF, highlighting its importance for increasing access to digital assets for investors.

Thailand’s Push for Digital Asset Adoption

Earlier this month, the Thailand government launched a pilot project for crypto payments in Phuket - the initiative aimed at testing the use of digital currencies within the nation’s legal framework. Overall, the project is seen as a move toward integrating cryptocurrency into everyday transactions, further signaling the country’s commitment to expanding digital asset use.

Moreover, Thai politician Thaksin Shinawatra has called for more progressive cryptocurrency regulations, advocating for broader use of stablecoins and other digital currencies. Thaksin’s statements have added momentum to ongoing discussions about the future of crypto regulation in Thailand, especially in the context of global trends toward digital finance.

Bitcoin ETFs Record Remarkable Statistics in the U.S.

Approved by the United States SEC on January 10, 2024, it becomes safe to assert that the U.S. spot Bitcoin ETFs have existed for over a year. Within the past twelve months, the ETFs have attracted considerable investors' interest, evidenced by significant cash inflows into the commodities.

According to the renowned on-chain ETF tracker, BTC ETFs concluded 2024 with over $30 billion in cumulative net inflows. For context, the ETF flow statistics on December 31 showed that the total net inflows were $35.24 billion.

Worthy of note is the fact that the funds recorded the above impressive figure despite facing several impediments stemming from the United States unfriendly crypto regulatory landscape in most of the previous year. However, with Donald Trump’s influence, the crypto space will undoubtedly experience massive expansion.

Disclaimer: This article is intended solely for informational purposes and should not be considered trading or investment advice. Nothing herein should be construed as financial, legal, or tax advice. Trading or investing in cryptocurrencies carries a considerable risk of financial loss. Always conduct due diligence before making any trading or investment decisions.

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