Spot Bitcoin exchange-traded funds (ETFs) are gaining traction globally, as evidenced by a recent regulatory decision in Thailand.After the US Securities and Exchange Commission (SEC) approved these products in January, they have seen substantial inflows after a recent dip in volumes.Thailand’s Securities and Exchange Commission (SEC) has reportedly approved ONE Bitcoin ETF Fund by One Asset Management (ONEAM), marking the country’s first Bitcoin ETF.The ETF is part of ONEAM’s Unhedged fund, typically unavailable to retail investors. The fund would invest in 11 top global funds based in Hong Kong and the US to boost liquidity and safety. Additionally, it would ensure that its coin storage policy aligns with international standards.ONEAM CEO Pote Harinasuta praised the approval, calling the product a good alternative to other financial assets. He noted that it allows investors to diversify their assets and manage investment risks.Meanwhile, this approval marks Thailand’s entry as the second Asian country to endorse a spot Bitcoin ETF. In April, Hong Kong authorities approved several Bitcoin and Ethereum ETFs. Although these products have struggled with volume, other Asian regulators remain interested in launching similar products for their citizens.Bloomberg senior ETF analyst Eric Balchunas, citing data from Bloomberg Intelligence, reported that US-based spot Bitcoin ETFs recorded 15 consecutive days of net inflows.These ETFs attracted $2.4 billion in inflows over the past month, trailing only the SPDR S&P 500 ETF Trust and Vanguard S&P 500 ETF. This brings the year-to-date total for Bitcoin ETFs to approximately $14 billion.Despite occasional days of zero flows and outflows recently, Balchunas noted that the current streak demonstrates the “staying power” of Bitcoin ETFs. Notably, the 15-day streak marks the second-longest positive run since the ETFs started trading in January when they saw 17 consecutive inflows.Oluwapelumi values Bitcoin’s potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.Also known as “Akiba,” Liam is a reporter, editor and podcast producer at CryptoSlate. He believes that decentralized technology has the potential to make widespread positive change. Stay ahead with crypto’s key news and insights. Delivered directly, every day.Binance partnered with the one of the largest businesses in Thailand for its new venture.Binance’s global reach in blockchain compliance helps disrupt major Thai criminal networks.Sweeping operation apprehending alleged 2.7 billion Baht crypto fraud suspectThailand’s Ministry of Digital Economy and Society (DES) is taking steps to shut down Facebook in the country, citing harmful investment scams causing economic and public security concerns. Court petition filed. The move to petition the court comes after a sharp rise in scams where fraudsters buy ads through Facebook and trick people into investing […]Miller argued that the flagship crypto remains vastly undervalued and predicts a major shift in global capital governance.The report highlights significant gaps in law enforcement’s ability to track and recover illicit digital assets moved via privacy coins, layer-2 networks, and crypto mixers. DeFi Technologies recently adopted BItcoin as its primary treasury reserve asset.Japanese firm Metaplanet saw its stock surge 10% after its most recent Bitcoin acquisition.CryptoSlate’s latest market report dives deep into the effects corporate Bitcoin purchases have on the market.Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.
