Thailand’s Securities and Exchange Commission is preparing to launch spot cryptocurrency exchange-traded funds supported by a newly designed market-making framework to ensure liquidity and orderly trading on the Stock Exchange of Thailand.
The regulator is finalising operational rules for the products, which local reports say could debut early this year as part of a wider push to modernise Thailand’s capital markets.
Central to the plan is the introduction of authorised market makers tasked with maintaining tight bid-ask spreads and reducing price volatility for crypto-linked ETFs.
The SEC intends to allow a broad range of participants to act as market makers, including digital asset exchanges, traditional financial institutions, and large corporations.
These entities will be responsible for continuously quoting buy and sell prices to support stable trading conditions on the SET.
Market makers are considered essential for preventing excessive price swings and slippage, particularly in newly listed digital asset products.
To ensure adequate liquidity, the SEC is considering a wide net for market makers.