Thailand Approves First Spot Bitcoin ETF, Is There An Impact On Indonesia?

Illustration of crypto assets (photo: Unsplash)

JAKARTA - Thailand has taken a step forward in its adoption of digital assets by approving its country's first Bitcoin Spot Exchange Trade Fund (ETF), as well as being the first in Southeast Asia.

Thus, this signifies an important transition in regulation and acceptance of crypto assets in the region. Tokocrypto CEO Yudhono Rawis sees this decision as a positive sign for the future of crypto assets in Indonesia.

"This Bitcoin Spot ETF approval in Thailand provides broad hopes for crypto adoption in Indonesia. This shows that regulators in the region are starting to accept crypto as a legal asset class and are increasingly open to its potential," Yudho said in a statement.

Yudho added that this could open up opportunities for the launch of crypto ETF investment products in Indonesia. Because, according to him, it can be the main driver for regulators in Indonesia to consider similar steps.

"By looking at the development of regulators in other countries, such as Thailand, Hong Kong, Australia, and the United States, which have approved crypto ETF, it is likely that Indonesia will follow the same steps," said Yudho.

Looking at developments in Thailand, there is a great opportunity for Indonesia to follow in this footsteps. With appropriate regulations for the Bitcoin Spot ETF, it can attract more institutional and retail investors who have been hesitant because of security and regulatory issues.

"In addition, Spot's Bitcoin ETF approval can increase crypto market liquidity in Indonesia and provide wider access to the public to invest in digital assets," he said.