The Securities and Exchange Commission (SEC) of Thailand has granted approval for the inaugural spot Bitcoin exchange-traded fund (ETF) in the nation. This groundbreaking ETF, known as 'ONE Bitcoin ETF Fund of Funds Unhedged and not for Retail Investors (ONE-BTCETFOF-UI),' has been authorized exclusively for ultra high net-worth individuals. The Bangkok Post, a prominent daily newspaper in Thailand, reported that the local asset management company, One Asset Management (ONEAM), has been given the green light to introduce the spot BTC ETF.

Despite the ETF's introduction, it is essential to note that it will not be accessible to small individual investors. Only Ultra High Net Worth Individuals (UHNWI) and institutional investors are eligible to participate in this BTC investment opportunity. The spot BTC ETF established in Thailand has received a risk rating of eight, placing the product in the high-risk category. This evaluation is primarily influenced by the substantial price volatility commonly associated with cryptocurrency assets.

To ensure the required liquidity and security for investors, One Asset Management plans to invest in 11 global funds as part of the BTC ETF strategy. Notably, both the U.S. and Hong Kong have reviewed Thailand's policy concerning spot BTC investment offerings.

In a similar vein, another investment firm based in Thailand, MFC Asset Management, is eagerly awaiting approval from the SEC to launch its spot BTC ETFs. If approved, MFC's investment product will also cater to institutional investors and affluent individuals.

The Thai SEC's endorsement of spot BTC ETFs aligns with the growing success of such investment products, particularly in the United States. Recent adjustments to regulatory frameworks have enabled asset management companies to explore opportunities within the crypto industry. Furthermore, on March 13, Thailand passed a tax exemption bill regarding cryptocurrency gains to bolster its digital economy.