According to the Bangkok Post, the Securities and Exchange Commission (SEC) of Thailand has allowed asset management companies to launch private funds investing in Bitcoin spot ETFs, but only institutional investors and ultra-high net worth individuals can invest in such funds.
SEC Secretary-General Pornanong Budsaratragoon stated on Monday (11th) that the SEC board agreed last week that asset management companies could manage private funds investing in Bitcoin spot ETFs listed on US exchanges.
Under Thai SEC regulations, securities firms can offer asset trading classified as securities assets. Following the approval of Bitcoin spot ETF trading by the US Securities and Exchange Commission, Bitcoin spot ETFs are defined as securities rather than digital assets, allowing Thai securities firms to invest in them.
However, only institutional investors and ultra-high net worth individuals can invest in Bitcoin spot ETFs. Pornanong stated:
Furthermore, the rules and regulations governing asset management companies’ investments do not cover digital asset ETF investments. Pornanong indicated that the SEC needs to adjust rules and regulations to open up such investments so that asset management companies and securities firms’ clients 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: South Korean Financial Supervisory Service Director General Holds Open Attitude, Taiwan FSC Chairman Believes High Risk and Lack of Intrinsic Value”