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Thailand is evaluating the possibility of listing Bitcoin exchange-traded funds (ETFs) on local exchanges.
According to Bloomberg, the Securities and Exchange Commission (SEC), led by Secretary-General Pornanong Budsaratragoon, is exploring ways to open Bitcoin ETF investments to both individuals and institutions to offer exposure to Bitcoin.
The move aligns with Thailand’s broader efforts to keep pace with the growing adoption of cryptocurrencies globally.
In June 2024, the SEC greenlit the country's first Bitcoin ETF for professional investors, offering indirect exposure to international Bitcoin ETFs.
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The SEC-approved ETF, launched by One Asset Management (ONEAM), is structured as a "fund of funds." This means it provides investors with exposure to Bitcoin through investments in 11 major global Bitcoin funds, aiming to mitigate the risks associated with directly holding the volatile cryptocurrency. However, access to the fund is limited to accredited and institutional investors.
The current proposal for locally-listed ETFs represents a shift towards broader market accessibility and aims to position Thailand as a leader in digital asset innovation in the Asia-Pacific region.
“Like it or not, we have to move along with more adoption of cryptocurrencies worldwide,” Pornanong said on Tuesday. “We have to adapt and ensure that our investors have more options in crypto assets with proper protection.”
The SEC is also evaluating new measures, including the issuance of stablecoins backed by government or corporate bonds, as part of its strategy to broaden access to digital and traditional financial markets.
In December ,Binance’s Thai subsidiary, Gulf Binance, has endorsed Prime Minister Thaksin Shinawatra’s proposal for a Bitcoin sandbox pilot in Phuket, while urging caution and thorough evaluation from the Bank of Thailand (BoT).
Nirun Fuwattananukul, CEO of Gulf Binance, described Thaksin’s proposal as a significant step for the country’s digital economy, highlighting how it aligns with global crypto adoption trends and Thailand’s economic strengths.
“[This initiative] not only reflects the momentum of crypto adoption but also demonstrates that leaders at the highest level are embracing these transformative technologies. As more countries adopt digital assets and cryptocurrencies, Thailand must not be left behind," Nirun said.
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Digital asset trading activity in Thailand is gaining momentum. By November 2024, there were approximately 270,000 active crypto trading accounts.
