Thailand’s market regulator says the country is working on expanding its exchange-traded funds (ETFs) plans beyond bitcoin BTC$118,823.85, Bloomberg reported on Thursday.
The country’s Securities and Exchange Commission (SEC) will allow local mutual funds and institutions to issue such funds under rules, SEC secretary-general Pornanong Budsaratragoon said, according to the report, citing an interview on Wednesday.
“Our possibility now is to broaden the criteria for the crypto such as a basket of cryptocurrencies,” Pornanong said. “We want to have broader supply of those crypto assets in the ETFs.”
Thailand is attempting to appeal to young investors who want some cryptocurrency in their portfolios as a diversification tool, Pornanong added.
The country has also been advancing its digital asset plans via “G-Tokens,” a tokenized form of government bond.
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