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Crypto

Thailand allows spot crypto ETFs, but approval this year uncertain

Thailand has implemented a framework allowing spot exchange-traded funds tied to bitcoin and ether, but no asset manager has submitted a formal application. The Thai Securities and Exchange Commission said several firms asked for preliminary consultations, but none moved to the filing stage. The SEC said it was too early to judge whether the first ETF could be approved this year, adding the timing could vary depending on applicant readiness, regulatory review and investor protection requirements.

Crypto

Bitcoin dominance deepens as altcoin rebound hinges on BTC gains

Expectations are growing that bitcoin must break higher before altcoins can escape broad selling pressure. Market maker Wintermute and crypto trading platform Phemex said funds have been moving out of altcoins into bitcoin, with capital concentrating in major tokens such as bitcoin and ether. Analysts flagged $82,500 as a key bitcoin level and said a drop below it could reopen $70,000. U.S. inflation data and risk-asset weakness added pressure.

Crypto

Kalshi introduces bitcoin-backed loans, targets U.S. perpetual futures market

U.S. prediction market platform Kalshi is expanding in the regulated U.S. crypto perpetual futures market by introducing crypto-backed loans and using Webull’s distribution network. Kalshi partnered with digital asset custodian BitGo to set up a lending structure, aiming to offer its perpetual futures to more than 6 million Webull customers. Kalshi launched regulated bitcoin perpetual futures earlier this year and later added gold, silver and a US500 stock index contract.