Thailand to Allow Locally Listed Bitcoin and Ether ETFs From Oct. 16

Thailand's Securities and Exchange Commission (SEC) on Thursday released new rules allowing local asset managers to launch bitcoin and ether exchange-traded funds (ETFs), creating a regulated way for investors to gain crypto exposure through the Stock Exchange of Thailand. The rules take effect Oct. 16. Under the framework, crypto ETFs must be listed on the Stock Exchange of Thailand, track a single cryptocurrency and keep at least 80% of net asset value tied to that underlying asset. In the initial rollout, only bitcoin and ether will be eligible, the regulator said. Investors must acknowledge they understand the risks before purchasing the products. Brokers are prohibited from lending clients money to buy crypto, and ETF crypto holdings must be kept with custodians regulated by Thailand's SEC. The change gives Thai investors a domestic ETF option instead of relying on offshore products or direct crypto trading. Up to now, Thailand has permitted only institutional and wealthy investors to invest in foreign crypto ETFs, while the regulator said last year it aimed to broaden the market beyond bitcoin. Thai asset managers may outsource crypto investment management to licensed digital-asset fund managers. Regulated digital-asset custodians and other qualified firms will also be able to register as fund supervisors for crypto ETFs. The SEC also updated rules to allow mutual funds and private funds to invest in Thai-listed crypto ETFs, subject to existing investment limits. In the initial phase, it will not approve instruments such as depositary receipts that would give non-institutional clients indirect access to foreign crypto ETFs. The policy brings bitcoin and ether into Thailand's conventional fund-and-exchange framework, with added custody, disclosure and suitability requirements. It aligns with the regulator's 2025 plan to expand the ETF lineup beyond bitcoin. Thailand is reported to have the world's highest share of crypto users per capita at 20%, above the U.S. at 13% and ahead of Nigeria, the Philippines and South Africa at about 19.4% each, according to World .