Thailand Considers Approval of 'Bitcoin ETF'

Thailand is considering the approval of a Bitcoin (BTC) spot Exchange-Traded Fund (ETF).

Puranong Butsaratrakun, Secretary-General of the Thai Securities and Exchange Commission (SEC), stated in an interview with Bloomberg on the 14th (local time) that they are "considering allowing investments in overseas Bitcoin ETFs."

Previously, Thailand's asset management company, One Asset Management, launched a 'fund of funds' investing in overseas Bitcoin ETFs in June last year. However, financial products that directly invest in Bitcoin have not yet been approved in Thailand.

Secretary-General Butsaratrakun emphasized the need to follow global trends. Hong Kong and Singapore are already introducing pro-virtual asset policies to establish themselves as virtual asset hubs in the Asia-Pacific region. Butsaratrakun stated, "Whether we like it or not, we must keep up with the global trend of increasing virtual asset adoption," adding that "investors in the virtual asset sector should have more choices with appropriate protection."

The Thai SEC is also considering approving the issuance of stablecoins. Secretary-General Butsaratrakun mentioned, "We are also considering allowing local companies with high credit ratings to issue stablecoins backed by their own bonds," noting that "this will help expand market accessibility for corporate bonds and reduce costs."