According to the Bangkok Post, the Securities and Exchange Commission (SEC) of Thailand has allowed asset management companies to launch private funds investing in Bitcoin spot ETFs, but only institutional investors and high-net-worth individuals are eligible to invest in such funds.
Pornanong Budsaratragoon, the Secretary-General of the Thai SEC, stated on Monday (11th) that the SEC board approved last week that asset management companies can manage private funds investing in Bitcoin spot ETFs listed on US exchanges.
According to the Thai SEC Act, securities firms can provide trading of assets classified as securities. After the US Securities and Exchange Commission approved Bitcoin spot ETF trading, Bitcoin spot ETFs are defined as securities rather than digital assets. Therefore, Thai securities firms can now invest in them.
However, only institutional investors and high-net-worth individuals are allowed to invest in Bitcoin spot ETFs. Pornanong stated:
In addition, the rules and regulations governing the investment in digital asset ETFs are not covered by the regulations for managing asset management companies. Pornanong stated that the SEC therefore needs to adjust the rules and regulations to allow for such investments, so that clients of asset management companies and securities firms can invest in Bitcoin spot ETFs through private funds, but only open to institutional investors and high-net-worth individuals.
Related report: “Bitcoin ETF Regulation: Chairman of the Korean Financial Supervisory Service holds an open attitude, Chairman of the Taiwanese Financial Supervisory Commission believes it is high-risk and lacks intrinsic value.”
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