As reported by the Bangkok Post, Thailand's Securities and Exchange Commission (SEC) has amended its regulations to allow the launch of private funds investing in Bitcoin ETFs traded on US exchanges.
These private ETFs will only be available to institutional investors and "ultra-high-net-worth individuals."
Until now, digital asset ETFs were not regulated under the rules applicable to asset management firms. Under the regulator's rules, these firms could only offer securities trading.
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However, after the US securities regulator approved spot Bitcoin ETFs in January, they came to be classified as securities and not crypto assets under Thai regulations.
SEC secretary general Pornanong Budsaratragoon has explained that only accredited investors will be able to invest in Bitcoin ETFs due to their high-risk nature.