Thailand SEC: No plans to allow spot Bitcoin ETF locally

Odaily News Thailand’s Securities and Exchange Commission stated that it has no policy allowing securities companies to establish spot Bitcoin ETFs in the country, pointing out that such financial products established overseas are not within its regulatory scope. Thailand’s Securities and Exchange Commission said the development of spot Bitcoin ETFs in the United States is in its early stages, with the regulator also stressing the importance of operator protection for investors. Mutual funds of asset managers are not allowed to invest directly in spot Bitcoin ETFs, the Thai Commission said in a statement on Tuesday. Prior to this statement, the U.S. Securities and Exchange Commission approved the establishment of spot Bitcoin ETFs by mutual funds. Subsequently, some Thai brokerages released news suggesting that customers can directly invest in such products. (Golden Ten)