According to the Bangkok Post, the Securities and Exchange Commission of Thailand has approved One Asset Management (ONEAM) as the first company in Thailand to launch a Bitcoin Exchange Traded Fund (ETF). It is reported that the fund will not directly invest in Bitcoin, but will indirectly invest through 11 leading global Bitcoin ETFs to ensure liquidity and security. However, it should be emphasized that the fund is only open to institutional investors and not accessible to retail investors.
Pote Harinasuta, CEO of ONEAM, stated that there are additional risks in directly investing in Bitcoin through various platforms. Past issues have included data loss or hackers stealing digital assets through the internet. When investing through an ETF, the unit holders’ data or tokens will be distributed through a custodian, meaning that tokens can be stored offline and are more secure. Pote Harinasuta suggests allocating 5% of an investment portfolio to Bitcoin, as holding Bitcoin helps increase expected returns and the Sharpe ratio of the portfolio.
Apart from the approved ONEAM, asset management company MFC is also awaiting approval from the Securities and Exchange Commission of Thailand for its Bitcoin ETF, which is also limited to institutional investors.
