According to a March 12 report from the Bangkok Post, Thailand’s SEC revamped its regulations to permit the launch of private funds investing in spot Bitcoin ETFs traded on US exchanges only for “institutional investors” and “ultra-high-net-worth investors” to allocate capital in such investments. 

According to the SEC Act, securities companies are authorized to facilitate the trading of assets categorized as securities. With the approval of spot Bitcoin ETF trading by the US SEC, these ETFs are now classified as securities rather than digital assets. Consequently, Thai securities firms are now permitted to invest in them.

Asset management companies have approached the SEC, seeking approval to include digital assets in their portfolios, particularly Bitcoin and spot Bitcoin ETFs.

Ms Pornanong added, “We need to consider carefully whether to allow asset management firms to invest in digital assets directly due to the high risk.”

Furthermore, the guidelines governing investment activities within asset management firms currently do not extend to include digital asset ETFs. As a result, the SEC found it necessary to adapt these regulations to facilitate investments in spot Bitcoin ETFs through private funds.

The SEC’s recent approval aligns with the prevailing market conditions, particularly as Bitcoin prices continue to approach record highs. With Bitcoin trading at over US$71,500 per coin on Monday, there’s an opportune moment to open up avenues for investment among Thai investors following recent fluctuations in its value.

Also Read: India’s Mudrex to Offer US Bitcoin ETFs to Indian Investors