Thailand’s market regulator says the country is working to expand its Exchange Trade Fund (ETF) plan beyond Bitcoin BTC$118,823.85Bloomberg reported Thursday.
The country’s Securities and Exchange Commission (SEC) will allow local mutual funds and institutions to issue such funds under the rules, Prime Minister Pornanong Budsaratragoon said, citing an interview on Wednesday.
“Our potential is to expand the standards of cryptocurrency, such as a basket of cryptocurrency,” Polnanon said. “We want to provide a wider range of these crypto assets with ETFS.”
Thailand is trying to appeal to young investors who want cryptocurrency as a tool to diversify their portfolios, Polnanon added.
The country is also promoting digital asset planning through “G-Tokens,” a tokenized form of government bonds.
Read more: Thai digital tourist wallets are deployed, crypto links are still stuck in the sandbox