Bitcoin ETFs show ‘staying power,’ now landing in Thailand

Spot Bitcoin exchange-traded funds (ETFs) are gaining traction globally, arsenic evidenced by a caller regulatory determination successful Thailand.

After the US Securities and Exchange Commission (SEC) approved these products successful January, they person seen important inflows aft a caller dip successful volumes.

Bitcoin ETF lands successful Thailand

Thailand’s Securities and Exchange Commission (SEC) has reportedly approved ONE Bitcoin ETF Fund by One Asset Management (ONEAM), marking the country’s archetypal Bitcoin ETF.

The ETF is portion of ONEAM’s Unhedged fund, typically unavailable to retail investors. The money would put successful 11 apical planetary funds based successful Hong Kong and the US to boost liquidity and safety. Additionally, it would guarantee that its coin retention argumentation aligns with planetary standards.

ONEAM CEO Pote Harinasuta praised the approval, calling the merchandise a bully alternate to different fiscal assets. He noted that it allows investors to diversify their assets and negociate concern risks.

Meanwhile, this support marks Thailand’s introduction arsenic the 2nd Asian state to endorse a spot Bitcoin ETF. In April, Hong Kong authorities approved respective Bitcoin and Ethereum ETFs. Although these products person struggled with volume, different Asian regulators remain interested successful launching akin products for their citizens.

‘Staying power’

Bloomberg elder ETF expert Eric Balchunas, citing data from Bloomberg Intelligence, reported that US-based spot Bitcoin ETFs recorded 15 consecutive days of nett inflows.

Bitcoin ETF Cumulative Flow. (Source: X/Eric Balchunas)

These ETFs attracted $2.4 cardinal successful inflows implicit the past month, trailing lone the SPDR S&P 500 ETF Trust and Vanguard S&P 500 ETF. This brings the year-to-date full for Bitcoin ETFs to astir $14 billion.

Despite occasional days of zero flows and outflows recently, Balchunas noted that the existent streak demonstrates the “staying power” of Bitcoin ETFs. Notably, the 15-day streak marks the second-longest affirmative tally since the ETFs started trading successful January erstwhile they saw 17 consecutive inflows.

The station Bitcoin ETFs amusement ‘staying power,’ present landing successful Thailand appeared archetypal connected CryptoSlate.