Good News for Bitcoin from the Thai Regulatory Authority!
Interest in crypto funds is growing all over the world.
As of today, the Securities and Exchange Commission (SEC) of Thailand has authorized One Asset Management to establish a fund for trading Bitcoin derivatives. The name of the fund will be âONE Bitcoin ETF End of Funds Unhedgedâ and this fund will serve institutional investors rather than individual investors.
Trading in Thailand's first Bitcoin exchange-traded fund will begin on June 6. Only institutional investors will be able to purchase these securities.
Asset Management director Pote Harinasuta said that with the help of these types of crypto products, institutional investors can diversify their risks in the crypto market.
The famous businessman announced that the demand for the leading cryptocurrency Bitcoin (BTC) has increased in Thailand as local investors expect high returns from investments.
The crypto industry needs Bitcoin and other cryptocurrencies ETF funds to attract additional money from large institutional companies, according to One Asset Management.
Previously, Thailand's financial regulator had issued a warning on all trading platforms operating in the country and banned advertising of crypto assets that violate local laws.
#kriptohaber24 #SEC'den $BTC
