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Thailand drafts rules for Bitcoin and Ether ETFs
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Thailand drafts rules for Bitcoin and Ether ETFs

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  • Thailand’s Securities and Exchange Commission opened consultations on draft rules for local Bitcoin and Ether ETFs.
  • The proposed ETFs would trade only on the Stock Exchange of Thailand and hold at least 80% exposure.
  • The rules form part of Thailand’s plan to develop its digital asset market for institutions.

Thailand’s Securities and Exchange Commission has opened consultations on draft rules for Bitcoin and Ether ETFs.

The proposed framework would allow asset managers to launch passive ETFs tracking only Bitcoin (CRYPTO:BTC) or Ether (CRYPTO:ETH).

“Under the revised approach, crypto ETFs will continue to be primarily required to use onshore DA custodians,” the SEC said.

The proposed ETFs would trade exclusively on the Stock Exchange of Thailand, with each fund tracking one crypto asset.

Each ETF would need average net exposure of at least 80% of its assets to the tracked cryptocurrency, while comments close on September 20.

The SEC would also allow mutual and private funds to invest in Thai-domiciled crypto ETFs under existing investment limits.

Thailand said the framework supports its ambition to become a global digital asset hub for institutional investors, while foreign custodians would face regulatory requirements.

At the time of reporting, Bitcoin price was $78,707.97.

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