Singapore’s Monetary Authority (MAS) emphasized that spot Bitcoin ETFs lack approval because crypto trading is inherently volatile, speculative, and unstable, particularly for retail investors.
Similarly, the Thai Securities and Exchange Commission asserted that it has no immediate plans to endorse ETFs because these products are just emerging in foreign markets. As such, it is too early to judge if they have the optimal economic value for Thai investors.
“The development of spot bitcoin ETFs in the foreign market is still in its early stages and such ETFs may not deliver direct economic value suitable for the current context of Thailand,” Thailand SEC reportedly said.
However, financial regulators in Hong Kong have signaled an openness to consider spot Bitcoin ETF applications.
Recent reports indicate the possibility of a spot ETF debuting in the city before the close of the first quarter. Hong Kong’s Venture Smart Financial Holdings Limited is reportedly gearing up to submit the necessary application for this ETF.
