Thailand Moves Closer to Launching Bitcoin and Ether ETFs with Draft Rules Proposal

cryptonews.ruPublished on 2026-08-25Last updated on 2026-08-25

Abstract

Thailand's Securities and Exchange Commission (SEC) has progressed from drafting principles to preparing a formal rule proposal for launching spot Bitcoin and Ether ETFs on the local market. A public consultation on the draft rules is open until September 20. The proposal outlines that ETFs, to be listed exclusively on the Stock Exchange of Thailand (SET), would initially track only Bitcoin (BTC) or Ether (ETH). Each ETF must maintain at least an 80% average net exposure to its underlying asset. Initially, domestic digital asset custodians will be the primary service providers. However, the SEC may permit qualified foreign custodians if deemed necessary. These foreign entities must be under regulatory supervision and meet investor protection standards deemed adequate by the Thai SEC. Additionally, the SEC has revised its framework for foreign custodians serving mutual and private funds investing in digital assets. The move is part of Thailand's strategy to become a global digital asset hub for institutional investors.

The Securities and Exchange Commission of Thailand (SEC) has moved the work on the regulatory framework for spot exchange-traded funds (ETFs) for bitcoin and ether listed on the local market from the principle development stage to the drafting of rules. Simultaneously, the regulator revised its approach to foreign custodians of digital assets.

The regulator announced on Monday that it is seeking feedback on two consultation papers. One presents draft rules for Thai cryptocurrency ETFs, while the other outlines regulatory principles for qualification requirements for foreign custodians of digital assets hired by mutual and private funds investing in digital assets.

Initially, asset managers will be able to create passive ETFs tracking bitcoin (BTC) or ether (ETH) - the only two cryptoassets that meet the requirements.

The draft rules follow April consultations on more general regulatory framework principles. The SEC stated that most respondents supported the framework but raised points regarding asset custody. This prompted the regulator to revise its proposed approach.

This regulatory framework is part of Thailand's push to become a global digital asset hub for institutional investors.

Bitcoin and Ether ETFs to Trade on Thai Stock Exchange

According to the proposed rules, Bitcoin and Ether ETFs will trade exclusively on the Stock Exchange of Thailand (SET). Each ETF will track a single cryptoasset and maintain a net exposure to it averaging no less than 80% of its net asset value throughout each reporting year.

See also: Bitcoin ETF Inflows Reach $1.9B - The Strongest Week Since October 2025

The proposed rules will allow mutual and private funds to invest in Thai-registered cryptocurrency ETFs alongside foreign cryptocurrency ETFs they are already permitted to invest in, subject to existing investment limits.

However, initially, the regulator will not permit alternative products linked to foreign cryptocurrency ETFs, including depositary receipts tracking them.

Thailand Revises Crypto Asset Custody Proposal

Under the revised approach, local digital asset custodians will remain the primary service providers for cryptocurrency ETFs in the initial phase.

"Under the revised approach, cryptocurrency ETFs will still need to predominantly use local digital asset custodians; however, the SEC may permit the use of qualified foreign digital asset custodians if it is necessary and appropriate given the prevailing circumstances," the SEC stated.

According to a separate custodian proposal, foreign service providers serving mutual and private funds investing in digital assets will need to be supervised by a regulator with appropriate legal authority. They will also need to comply with regulatory requirements and investor asset protection standards that the Thai SEC deems adequate.

The SEC will accept public comments on both consultation papers until September 20th.

Magazine: Korean Bank Partners with Ripple for Payments, Pakistan Opens Crypto Licensing: Asia Express

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Related Questions

QWhat regulatory step has Thailand's SEC recently taken regarding Bitcoin and Ether spot ETFs?

AThailand's SEC has moved from developing principles to preparing draft rules for the regulation of spot Bitcoin and Ether ETFs that would be listed on the local market.

QOn which exchange will the proposed Bitcoin and Ether ETFs in Thailand be traded?

AAccording to the proposed rules, the Bitcoin and Ether ETFs would be traded exclusively on the Stock Exchange of Thailand (SET).

QHow has the SEC revised its approach concerning the custody of crypto assets for ETFs?

AThe SEC has revised its approach to allow crypto ETFs to primarily use local digital asset custodians initially. However, it may permit the use of qualified foreign custodians if deemed necessary and appropriate given the circumstances.

QWhat are the investment limitations for mutual and private funds regarding cryptocurrency ETFs under the new draft rules?

AThe draft rules would allow mutual and private funds to invest in both Thai-registered crypto ETFs and foreign crypto ETFs, subject to the existing investment limits.

QWhat is the minimum net exposure requirement for a Thai crypto ETF to its underlying asset?

AEach ETF must maintain an average net exposure to its single underlying crypto asset of at least 80% of its net asset value (NAV) throughout each reporting year.

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