According to the Bangkok Post, the Securities and Exchange Commission of Thailand (SEC) has allowed asset management companies to launch private funds that invest in Bitcoin spot ETFs. However, only institutional investors and ultra-high-net-worth individuals are eligible to invest in these funds.
SEC Secretary-General Pornanong Budsaratragoon stated on Monday (11th) that the SEC board approved last week for asset management companies to manage private funds that invest in Bitcoin spot ETFs listed on US exchanges.
Under the Thailand SEC Act, securities firms can offer asset trading classified as securities. After the US Securities and Exchange Commission approved Bitcoin spot ETF trading, Bitcoin spot ETFs are defined as securities rather than digital assets. Therefore, Thai securities firms can now invest in them.
However, only institutional investors and ultra-high-net-worth individuals are allowed to invest in Bitcoin spot ETFs. Pornanong stated:
“Furthermore, the rules and regulations governing the investment of asset management companies do not cover investments in digital asset ETFs. Therefore, the SEC needs to adjust the rules and regulations to allow for such investments so that clients of asset management companies and securities firms can invest in Bitcoin spot ETFs through private funds, but only open to institutional investors and ultra-high-net-worth individuals.”
Related reports: “Bitcoin ETF Regulation: Korean Financial Supervisory Service Chairman Holds an Open Attitude, Taiwan Financial Supervisory Commission Chairman Believes it is High Risk and Lacks Intrinsic Value.”
