DIGIVESTASI - Thailand Considers Listing Bitcoin ETFs on Local Exchange

Thailand is currently exploring the possibility of allowing, for the first time, the listing of exchange-traded funds (ETFs) with Bitcoin as the underlying asset on its local exchange. This move is part of the country's strategy to develop itself as a regional hub for digital assets.

According to a Bloomberg report on Thursday (January 16, 2025), the Secretary-General of Thailand's Securities and Exchange Commission (SEC), Pornanong Budsaratragoon, stated that the agency is considering this step to provide access to local Bitcoin ETFs for both individual and institutional investors.

In June 2024, One Asset Management Thailand launched a fund that provides exposure to offshore Bitcoin ETFs. However, Thailand has yet to permit direct investment in native cryptocurrencies. This shift in stance comes amidst increasing competition among Asia-Pacific countries to establish themselves as leading digital asset hubs.

Singapore and Hong Kong have already implemented policies that support the development of the digital asset sector. Meanwhile, the newly elected President of the United States, Donald Trump, announced during his campaign his intention to make the U.S. a global crypto hub.

"We must continue moving forward with the adoption of cryptocurrencies globally, whether people like it or not. It is crucial that we adapt and ensure that investors have more choices in crypto assets with adequate protections," Pornanong stated.

Thailand is also seen as a potential market for digital asset companies like Binance Holdings Ltd., which has started eyeing growth in the country following regulatory easing. Thaksin Shinawatra, the de facto leader of the ruling Pheu Thai Party, is known to be a strong advocate for cryptocurrencies.