Thailand Clears Regulatory Path for Spot Bitcoin and Ether ETFs on Local Exchange

Thailand will allow spot Bitcoin and Ether exchange-traded funds (ETFs) to trade on the Stock Exchange of Thailand starting Oct. 16, 2026, after regulators finalized a new rule set for crypto-linked funds. The framework creates a regulated channel for both retail and institutional investors to gain cryptocurrency exposure through domestically offered investment funds. The rules do not amount to approval of any specific ETF, and products will still need to meet eligibility requirements before they can launch. On Oct. 8, the Thai Securities and Exchange Commission (SEC) issued 11 notices governing crypto ETFs. Under the rules, each ETF must track a single cryptocurrency; initially, only Bitcoin or Ether are permitted. Funds must maintain an average of at least 80% of net asset value invested in the referenced cryptocurrency over the financial year. The SEC also set custody standards. ETFs must use Thai crypto custodians approved by the regulator, and asset management firms must demonstrate adequate staffing, systems and service providers to operate the products. To curb risk-taking, brokerages will be barred from offering margin loans or other leveraged financing for investors buying crypto ETFs. The rules also broaden domestic institutional participation: Thai mutual funds and private funds will be allowed to invest in locally established crypto ETFs. Retail investors, though, will remain restricted from gaining exposure via overseas crypto ETFs and related depositary receipts sold through Thai brokerages; that access is limited to institutional investors and ultra-high-net-worth individuals. Despite the Oct. 16 effective date, no Bitcoin or Ether ETF launches have been confirmed. The rulebook outlines the conditions for market entry, while product availability and market liquidity will shape how quickly Thailand's exchange sees regulated crypto ETF offerings.