Thailand's Securities and Exchange Commission finalized rules on Thursday allowing cryptocurrency exchange-traded funds (ETFs) linked to Bitcoin and Ether to trade on the Stock Exchange of Thailand. The regulations will take effect on October 16, 2026.
The framework limits initial offerings to Bitcoin and Ether while restricting certain product structures. Depositary receipts tied to foreign crypto ETFs will not be permitted, and Thai brokers remain prohibited from facilitating retail investor access to overseas crypto ETFs, except for institutions and ultra-high-net-worth individuals.
Under the new rules, crypto ETFs must operate as passive investment vehicles designed to track the price of their underlying cryptocurrency. Fund managers must maintain net exposure to a single cryptocurrency averaging at least 80% of net asset value over each accounting year.
The SEC amended related rules to allow mutual funds and private funds to invest in Thai-established crypto ETFs. Previously, these funds could only invest in foreign crypto ETFs. Brokers are prohibited from providing margin loans for crypto ETF purchases, and fund assets must be held with SEC-regulated digital asset custodians.
Investors must receive product information and confirm their understanding of associated risks before trading. The regulator consulted stakeholders on the proposed framework in April and May, with draft regulations discussed in August and September. Most respondents supported the proposals, according to the SEC.
