- Private funds can now invest in spot Bitcoin ETFs that are traded on US exchanges.
- The SEC Act did not previously include the investments made by asset management companies.
- Asset management companies had already been denied permission by the SEC to introduce their spot Bitcoin ETFs in the nation.
Private funds can now invest in spot Bitcoin ETFs that are traded on US exchanges according to amendments made to the regulations by Thailand’s Securities and Exchange Commission (SEC).
But the only people who can finance these private Bitcoin ETF funds are “ultra-high-net-worth individuals” and institutional investors.
Thailand SEC
The SEC Act, which only permitted the trading of assets categorized as securities, did not previously include the investments made by asset management companies. However, shares of spot Bitcoin ETFs are now considered securities in Thailand according to laws, having been recognized by the US securities authority in January.
Because Bitcoin ETFs are very risky, only accredited investors are permitted access to them, according to SEC secretary-general Pornanong Budsaratragoon.
Asset management companies had already been denied permission by the SEC to introduce their spot Bitcoin ETFs in the nation. Since retail cryptocurrency trading is still popular but its use is still restricted, retail investors are likewise not covered by the new regulations. With 107 pairings offered and a daily turnover of roughly $155 million, Bitkub is the largest cryptocurrency exchange in the Kingdom.
