- Thailandโs SEC has expressed its reservations for a spot Bitcoin ETF launch.
- The regulator โdoes not plan to allowโ ETF launches for now.
- SEC said there is no policy framework to support the product launch.ย ย
According to a local media outlet report, Thailand’s Securities and Exchange Commission (SEC) has denied spot Bitcoin ETF trading in the country.
Typically, approved spot Bitcoin ETFs would allow Thai investors to invest in crypto through mutual funds registered with the stock exchange under the regulatorโs supervision. However, the Thai SEC holds that it canโt support establishing these products in the country โfor the time being.โ
Thai SEC Nixes Spot Bitcoin ETF Trading
Per a Bangkok Post report dated January 17, the SEC said it โdoes not plan to allowโ asset management firms to launch spot Bitcoin exchange-traded funds (ETFs) despite similar products launching in the U.S. last week.
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On January 10, the U.S. approved 11 issuers to launch their spot Bitcoin ETFs, including the worldโs largest asset manager, BlackRock. In response to the development, the Thai regulator stated that it doesnโt have a policy framework to support a similar launch in the country.
โThe SEC has been following these developments closely but we do not have a policy to allow spot Bitcoin ETFs to be established in Thailand for the time being,โ the regulator said.
While the future of these products remains uncertain in Thailand, the regulator reiterated that Thai users could invest in digital assets via licensed domestic exchanges under the Digital Assets Decree, citing the benefits of fair and transparent trading.
Further, the regulator stated that securities companies could provide retail customers with foreign product investment services, โbut they must have the same characteristics as products that can be offered for sale in Thailand.โ
In the meantime, the regulator said it would monitor developments, operations, and supervision in various areas to build policy guidelines for crypto ETFs further.ย ย
Learn more about spot Bitcoin ETFs:
What Is a Spot Bitcoin ETF and Why Is It So Important?
Stay updated on how Altcoins performed following Bitcoin ETFs launch:
Altcoins Steal the Show after Bitcoinโs Historic ETF Launches
