Mike Smith
Jan 15
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The Securities and Exchange Commission (SEC) of Thailand has initiated discussions on the possibility of launching local Bitcoin-focused exchange-traded funds on state platforms. This initiative could significantly affect the development of the cryptocurrency sector in the country, especially in the context of growing international competition in this area.
The information appeared against the backdrop of BlackRock's plans to launch Bitcoin ETFs in Canada. It is noteworthy that the funds of this organization already occupy leading positions in this segment on Wall Street trading platforms. BlackRock's success is confirmed by impressive financial indicators: over the past year, the company's asset portfolio increased by 15%, reaching a record high of $11.55 trillion. At the same time, $390 billion came to the management company through various ETFs, and about half of this amount came from investors' investments in Bitcoin ETFs.
The financial regulator of Thailand is carefully analyzing the potential benefits of introducing such instruments on local exchange platforms. In March last year, the supervisory authority already granted permission to local investment organizations to create funds aimed at investing in Bitcoin ETFs on Wall Street. However, access to these instruments was limited exclusively to institutional investors.
The new initiative of the Thai regulator is aimed at expanding the capabilities of local investment companies. It is assumed that they will be able to launch their own Bitcoin ETFs, which will significantly expand the range of financial instruments available on the country's market. This decision may become another step in the development of the state's digital economy and attracting additional investment in the region's cryptocurrency sector.
