The United States marked a significant breakthrough in January 2024 by becoming the first country to approve spot Bitcoin ETFs, setting a global benchmark for crypto innovation.
Following this milestone, Hong Kong soon followed suit with its own approval, and now Thailand is making strides toward joining the trend.
According to Bloomberg, Thailand’s Securities and Exchange Commission (SEC) is actively evaluating the possibility of introducing Bitcoin ETFs on local exchanges. This move could provide both retail and institutional investors in Thailand with direct access to Bitcoin investments, aligning the country with the growing global acceptance of cryptocurrency assets.
Pornanong Budsaratragoon, Secretary-General of Thailand’s SEC, emphasized the importance of adapting to the evolving crypto landscape. She highlighted the need to expand investment options in digital assets while ensuring robust protections for investors.
This isn’t Thailand’s first step into the Bitcoin ETF space. The SEC had previously approved a fund allowing institutional players to access overseas Bitcoin ETFs, signaling its intent to embrace the broader crypto ecosystem. With this potential new development, Thailand is positioning itself to further integrate cryptocurrency into its financial markets.
With Bitcoin hovering near $119,000, traders are weighing their next move carefully. The question dominating the market now is simple: Buy the dip or wait for a cleaner setup?
Bitcoin has officially reached the $116,000 milestone, a level previously forecasted by crypto services firm Matrixport using its proprietary seasonal modeling.
Bitcoin’s market signal has officially shifted back into a low-risk phase, according to a new chart shared by Bitcoin Vector in collaboration with Glassnode and Swissblock.
Financial author Robert Kiyosaki is once again sounding the alarm on America’s economic health.