Thailand approves first spot Bitcoin ETF for wealthy investorsThailand has approved its inaugural spot Bitcoin exchange-traded fund (ETF), marking its entry into the growing list of nations that support regulated Bitcoin investment vehicles. The ONE Bitcoin ETF Fund is scheduled to be available to investors from May 31 to June 6. The ETF will cater exclusively to wealthy and institutional investors, following regulatory adjustments in April that allowed Bitcoin ETFs aimed at professional investors. Additionally, jurisdictions like Hong Kong, Australia, and the UK have launched spot Bitcoin ETFs or comparable products. Thailand has previously adopted crypto-friendly policies, such as exempting crypto trading gains from the 7% value-added tax and permitting local investment in U.S. spot bitcoin ETFs.

Source: Bangkok Post June 04, 2024 22:00 UTC