A new one has been added to the countries that have approved Bitcoin spot ETFs. Thailand, the country with the most crypto adaptation in the South Asian region in recent years, has also approved these products.

The application of One Asset Management (ONEAM), a financial services company, was officially approved.

This approval, which is seen as a major advance in terms of Bitcoin and cryptocurrency adaptation, currently only covers institutional and high-income investors. The fund is expected to open for trading within two days.

As it is known, Thailand has recently been pursuing a policy that supports the adoption of cryptocurrencies. Finally, the value added tax on crypto transactions was reduced to zero.

On the other hand, MFC Asset Management, another company in Thailand, continues to wait for approval. This ETF will also be open to the institutional and high income group.

Known as one of the largest economies in the South Asian region, Thailand has a population of 70 million and a GDP of $540 billion according to 2023 figures.