Thailand SEC May Approve Bitcoin ETFs on Local Exchanges

A recent Bloomberg report revealed that the Thailand Securities and Exchange Commission (SEC) may soon permit Bitcoin ETFs to be listed on local exchanges for the first time.

This move aims to keep the country in line with other major cryptocurrency markets such as Singapore, Hong Kong, and the US.

As of November 30, 2024, the Thailand SEC has reported over 270,000 active crypto trading accounts. This number has more than doubled from the previous month, which recorded 117,000 active accounts.

Recognizing the increasing significance of the crypto industry in Thailand, SEC Secretary-General Pornanong Budsaratragoon stated that the commission is considering allowing individuals and corporations to directly invest in local Bitcoin ETFs.

Pornanong also emphasized the need for adaptation and ensuring proper protection for investors in the rapidly evolving world of cryptocurrency.

Thailand is not alone in this push, as leaders of major banks in Japan have been urging regulators to approve crypto-based ETFs, specifically Bitcoin and Ethereum. Other countries in the Asia-Pacific region, such as Hong Kong and Australia, have already greenlit their own spot crypto ETFs.