Bitcoin ETFs show ‘staying power,’ now landing in Thailand Bitcoin ETFs show ‘staying power,’ now landing in Thailand
US-based Bitcoin ETFs are currently on a 15-day inflow streak.
2 min read
Updated: Jun. 4, 2024 at 3:01 pm UTC
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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.
Bitcoin ETF lands in Thailand
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.
‘Staying power’
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.
Mentioned in this article
Bitcoin 
BlackRock 
Fidelity Investments iShares Bitcoin Trust 
Fidelity Wise Origin Bitcoin Trust 
Eric Balchunas Author 
Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
Editor Editor 
Liam 'Akiba' Wright
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.
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In this article
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
BlackRock
BlackRock, synonymous with global asset management, is an American multinational investment management corporation based in New York City.
Fidelity Investments
Fidelity Investments Inc., commonly referred to as Fidelity, is a multinational financial services corporation based in Boston, Massachusetts.
The BlackRock Bitcoin ETF, known as the iShares Bitcoin Trust (IBIT), is an investment fund that provides regulated exposure to Bitcoin for investors.
The Fidelity Wise Origin Bitcoin Trust (FBTC) is a spot Bitcoin ETF that offers investors exposure to the price of Bitcoin.
Eric Balchunas is an American author, ETF analyst, and Senior ETF Analyst at Bloomberg Intelligence.
