Thailand’s Securities and Exchange Commission (SEC) has reportedly made changes to its regulations to allow the launch of private funds that invest in spot Bitcoin exchange-traded funds (ETFs) traded on US exchanges. However, only institutional investors and “ultra-high-net-worth individuals” will be eligible to invest in these private Bitcoin ETF funds, according to a report from the Bangkok Post. Previously, regulations did not cover digital asset ETFs, but after the US securities regulator approved spot Bitcoin ETFs in January, they were reclassified as securities under Thai regulations. The SEC has decided to limit exposure to Bitcoin ETFs to accredited investors due to their high-risk nature. Retail investors in Thailand are excluded from investing in spot Bitcoin ETFs as a result of these new rules. It’s worth noting that retail crypto trading in Thailand remains popular but is subject to restrictions, as the government outlawed using digital assets for payments in March 2022 and the SEC banned the use of cryptocurrencies for lending and investment in July 2023. However, the SEC did lift restrictions on retail investors purchasing digital tokens backed by real estate or infrastructure projects in January. Bitkub, the largest crypto exchange in Thailand, offers 107 pairs and has a daily trading volume of approximately $155 million. Binance also entered the Thai market in January with a new exchange, but it is currently only accessible to Thai nationals.
Thailand SEC Welcomes Accredited US Investors to Explore Spot Bitcoin ETFs