Thailand may soon allow the listing of local Bitcoin spot ETFs, Bloomberg reports.
Though high-net-worth Thais and institutional investors in the country can already invest in Bitcoin indirectly via a fund-of-funds Bitcoin ETF launched by One Asset Management (ONEAM) last June, retail investors don’t have the same type of access to Bitcoin ETFs as those in countries like the U.S.
The Secretary-General of Thailand’s Securities and Exchange Commission (SEC), Pornanong Budsaratragoon, told Bloomberg in a press conference: “Like it or not, we have to move along with more adoption of cryptocurrencies worldwide.”
“We have to adapt and ensure that our investors have more options in crypto assets with proper protection,” she added.
Legalizing ETFs for mainstream investors wasn’t the only pro-crypto measure floated by Thailand’s leaders.
Thaksin Shinawatra, a former prime minister of the country, said Thailand should consider issuing stablecoins backed by government bonds for retail and institutional investors.
Shinawatra also proposed allowing companies with the strongest credit ratings to issue their own stablecoins—backed by their corporate bonds—as a low-cost way to raise capital.
The U.S. legalized Bitcoin ETFs on Jan. 10, 2024, after almost a decade of regulatory rejections. The funds have seen huge inflows since then, particularly following the election of Donald Trump. Other major economies, such as Hong Kong, followed suit by allowing Bitcoin ETFs in April 2024, followed by Australia in July.
It may be no surprise that some figures within the international crypto industry are pushing for greater adoption of Bitcoin ETFs, as they have already demonstrated immense popularity among investors in the U.S. market.
As per data from CoinGlass, spot Bitcoin ETFs attracted inflows of more than $900 million four times in 2024, and twice again during the start of 2025.
The news comes after Thailand announced plans earlier this week to launch a crypto payment pilot program on the island of Phuket, which will allow tourists who register with the government to make payments in Bitcoin.
However, the Southeast Asian nation’s support for the crypto industry isn’t unwavering.
Earlier this week, Bloomberg Law reported that Thai police announced they are preparing to propose a ban on the crypto betting platform Polymarket, alongside neighboring Singapore. Thai police said the company, which saw a vast surge in popularity ahead of the US election, was offering illegal betting services, as crypto can’t legally be used for gambling in the country.
Edited by Stacy Elliott.