hailand’s Securities and Exchange Commission (SEC) has made a groundbreaking move by granting approval for the ONE Bitcoin ETF Fund, developed by One Asset Management (ONEAM), marking the country’s inaugural Bitcoin ETF. This pivotal decision signals the growing acceptance and interest in spot Bitcoin exchange-traded funds (ETFs) within the global financial landscape.
ONE Bitcoin ETF
The approved ETF, a part of ONEAM’s Unhedged fund, represents an exclusive investment opportunity hitherto unavailable to retail investors. By investing in 11 top global funds based in Hong Kong and the US, the fund aims to enhance liquidity and safety, while aligning its coin storage policy with international standards. ONEAM CEO Pote Harinasuta lauds the approval, emphasizing the product’s potential as a valuable alternative to traditional financial assets, enabling investors to diversify their portfolios and mitigate investment risks.
Emergence of Thailand in the Bitcoin ETF Space
Thailand's regulatory nod for the ONE Bitcoin ETF heralds the country’s position as the second Asian nation to endorse a spot Bitcoin ETF, following Hong Kong’s approval of multiple Bitcoin and Ethereum ETFs in April. Despite initial challenges related to trading volume, the endorsement underscores the sustained interest among various Asian regulators in launching similar products for their citizens.
Spotting ‘Staying Power’ in US-based Bitcoin ETFs
Bloomberg senior ETF analyst, Eric Balchunas, highlighted the burgeoning popularity of spot Bitcoin ETFs in the US, citing 15 consecutive days of net inflows. Notably, these ETFs recorded substantial inflows of $2.4 billion over the past month, positioning them just behind renowned traditional ETFs. With a year-to-date total of approximately $14 billion, the sustained growth of Bitcoin ETFs underscores their ‘staying power’, as they mark the second-longest positive run of 15 consecutive inflows since their launch in January.
