Thailand Nears Approval for Bitcoin ETFs

The Securities and Exchange Commission (SEC) is considering allowing both individuals and institutions to invest in domestic Bitcoin ETFs, according to Pornanong Budsaratragoon, secretary-general of the Thai Securities and Exchange Commission (SEC).

Although Thai asset manager One Asset Management launched a fund-of-funds in June 2024, providing access to international Bitcoin ETFs, approval for funds to invest directly in Bitcoin has yet to be granted.

Thailand accelerates in Asia-Pacific crypto race

The policy shift coincides with increasingly fierce competition to build digital asset hubs in the Asia-Pacific region. Similar supportive policies have also been rolled out in Singapore and Hong Kong.

Meanwhile, President-elect Donald Trump has said during his campaign that he wants to make the United States a global cryptocurrency hub.

Read more: XRP Soars on Optimism Over ETF Approval

“Whether we like it or not, we have to adapt to the growing popularity of cryptocurrencies around the world,” Pornanong said in an interview at her office. “We need to regulate and make sure that investors have more options for digital assets, with appropriate protections.”

Binance and other digital asset companies are also looking to Thailand as a key growth market as the country eases restrictions. Thaksin Shinawatra, the de facto leader of the ruling Pheu Thai Party, is a crypto supporter and recently suggested that Thailand should consider issuing a government-backed stablecoin for both individual and institutional investors.