exchange

Market news: Thailand may allow Bitcoin ETFs to be listed on local exchanges for the first time

ChainCatcher news, according to Bloomberg, the Thai Securities and Exchange Commission (SEC) is considering allowing Bitcoin exchange-traded funds (ETFs) to be listed on local exchanges for the first time, aiming to promote the country as a digital asset hub. SEC Secretary-General Pornanong Budsaratragoon stated that the proposed new regulations will allow both individual and institutional investors to invest in local Bitcoin ETFs. Previously, Thailand's One Asset Management launched a fund portfolio in June 2024, providing investors with indirect exposure to overseas Bitcoin ETFs, but direct investment products in Bitcoin have not yet been permitted.This potential policy shift comes as competition intensifies among digital asset hubs in the Asia-Pacific region. Singapore and Hong Kong have implemented supportive policies, while U.S. presidential candidate Trump has also pledged to make the U.S. a global cryptocurrency center. Pornanong stated, "Like it or not, we must follow the pace of global cryptocurrency adoption. We need to adapt to changes and provide investors with more protected investment options in crypto assets." Additionally, Thailand is gradually easing restrictions on digital assets, including considering the launch of a government bond-backed stablecoin and planning to establish a tourism service sandbox for Bitcoin trading in Phuket.According to the latest data, as of November 30, there are approximately 270,000 active cryptocurrency trading accounts in Thailand.
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