Spot Bitcoin exchange-traded funds (ETFs) are gaining global traction, highlighted by a recent regulatory decision in Thailand.

Following the US Securities and Exchange Commission (SEC) approval in January, these products have experienced significant inflows after a recent dip in volumes.

Thailand’s Securities and Exchange Commission (SEC) has approved the ONE Bitcoin ETF Fund by One Asset Management (ONEAM), marking Thailand’s first Bitcoin ETF. This fund, part of ONEAM’s Unhedged fund typically unavailable to retail investors, will invest in 11 top global funds based in Hong Kong and the US to enhance liquidity and safety, and ensure its coin storage policy meets international standards.

ONEAM CEO Pote Harinasuta praised the approval, calling it a valuable alternative to other financial assets, allowing investors to diversify and manage investment risks.

This makes Thailand the second Asian country to approve a spot Bitcoin ETF, following Hong Kong's approval of several Bitcoin and Ethereum ETFs in April. Despite volume struggles, other Asian regulators show interest in similar products.

Bloomberg senior ETF analyst Eric Balchunas, citing Bloomberg Intelligence data, reported that US-based spot Bitcoin ETFs have seen 15 consecutive days of net inflows. These ETFs have attracted $2.4 billion over the past month, ranking third in inflows year-to-date at approximately $14 billion. Despite occasional zero flows and outflows, Balchunas noted the "staying power" of Bitcoin ETFs, with this 15-day streak being the second-longest positive run since their January launch.