In January Thailand’s Securities and Exchange Commission (SEC) said it would monitor developments after the launch of 11 spot Bitcoin ETFs in the United States. Now it is granting permission to asset managers to launch private funds that can invest in these ETFs. However, the Bangkok Post reported that the SEC is not yet comfortable allowing asset managers to invest directly in cryptocurrencies.
“Asset management firms asked the SEC for them to have exposure in digital assets, especially Bitcoin and spot Bitcoin ETFs, but we need to consider carefully whether to allow asset management firms to invest in digital assets directly due to the high risk,” said SEC secretary-general Pornanong Budsaratragoon.
The funds launched by the asset managers will only be eligible for investment by institutions and ultra high net worth individuals (UHNWI).
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