The funds, operated by One Asset Management (ONEAM) and MFC Asset Management (MFC), are currently the only mutual funds in Thailand approved by the Securities and Exchange Commission (SEC) to invest in spot Bitcoin exchange-traded funds (ETFs).
These funds are exclusively available to institutional and ultra-accredited investors (UI) due to the high risks associated with cryptocurrencies. Eligible investors must demonstrate significant financial knowledge and risk tolerance.
Bitcoin is currently trading at around $96,000, with analysts predicting the cryptocurrency will cross the $100,000 threshold later this year.
ONEAM’s fund, ONE Bitcoin ETF Fund of Funds Unhedged (ONE-BTCETFOF-UI), launched on June 6, allocates its investments across master funds, including Franklin Bitcoin ETF (50.6%), iShares Bitcoin Trust Fund (38.4%), and Fidelity Wise Origin Bitcoin Fund (10.5%). With total assets of 327 million baht as of November 26, the fund mirrors the performance of these underlying ETFs.
“The fund’s strong returns reflect Bitcoin’s historic highs, driven by optimism surrounding Trump’s pro-Bitcoin policies,” said ONEAM CEO Pote Harinasuta. He added that regulated mutual funds offer advantages such as tax exemptions and secure asset custody, making them a safer alternative to unregulated crypto platforms.
MFC’s Bitcoin ETF Tracker Fund (MBTCETF-UI), launched on June 7, focuses primarily on BlackRock’s iShares Bitcoin Trust (IBIT). The fund’s performance, which also neared 30% returns, prompted MFC to expand its registered asset size from 2 billion baht to 5 billion earlier this month, with its net asset value reaching 2.5 billion baht by November 27.
“Trump’s policies have sparked optimism about Bitcoin’s future role in the financial system, leading to increased demand,” noted MFC executive Chaovakorn Chotibunt. However, he cautioned investors to approach digital assets carefully, suggesting they allocate no more than 1% of their portfolio to the volatile sector.
While younger investors are particularly drawn to Bitcoin, others are turning to it as a hedge against concerns over the US dollar’s stability. With growing market speculation and institutional interest, Thailand’s regulated crypto funds are becoming a notable entry point for high-risk, high-reward investments.
