Thailand's SEC Authorizes Accredited Investors for Bitcoin ETFs

The Thailand Securities and Exchange Commission (SEC) has recently amended its regulations to permit asset management firms to offer private funds that invest in spot Bitcoin exchange-traded funds (ETFs) listed on US exchanges. This opportunity is, however, restricted to institutional and ultra-high-net-worth individuals, aligning with the country's approach to cautiously integrate digital currencies into its financial landscape.

The SEC's move coincides with the surge in Bitcoin's value, which has reached a new all-time high of over $71,500 per coin. The revision of the regulations follows the United States SEC's recognition of spot Bitcoin as a security, which influenced the Thai SEC's decision to classify spot Bitcoin ETFs similarly. Although the Thai SEC has made this progressive step, it remains cautious and has not indicated any immediate plans to allow the establishment of Bitcoin ETFs within Thailand itself.

While the SEC's decision opens the door for a select group of Thai investors to indirectly invest in Bitcoin through regulated channels, retail investors currently do not have the same level of access to these investment vehicles. Nonetheless, the SEC has expressed that it may consider extending the investment opportunity to individual investors in the future. Meanwhile, the Stock Exchange of Thailand (SET) has introduced new measures aimed at enhancing market supervision, reflecting a broader intent to boost investor confidence and foster growth in the Thai market.