One Asset Management (ONEAM) has received approval from the Securities and Exchange Commission (SEC) of Thailand to launch a fund that focuses on investing in spot bitcoin exchange-traded funds (ETFs). This newly approved fund, known as “One Bitcoin ETF Fund of Funds Unhedged Fund Not For Retail Investors (ONE-BTCETFOF-UI),” will only be accessible to institutional investors and high-net-worth individuals from May 31 to June 6. The Thai SEC granted its approval for the fund’s establishment on May 17. The One Bitcoin ETF Fund aims to invest in international ETFs that offer exposure to bitcoin. As stated in its prospectus, the fund will primarily invest in two U.S. spot bitcoin ETFs, namely Blackrock’s Ishares Bitcoin Trust (IBIT) and Fidelity Wise Origin Bitcoin Fund (FBTC).
