Thailand’s Bitcoin and Ethereum ETF Rules Take Effect, Opening Path to Regulated Listings

Key Takeaways

• Eligible crypto ETFs should be traded exclusively on the Stock Exchange of Thailand.
• Funds should track one cryptocurrency, initially Bitcoin or Ethereum, with at least 80% average net exposure.
• The rules taking effect do not confirm that any ETF has launched.

Thailand’s ETF regulations take effect on October 16, 2026, establishing a framework for locally listed products tracking Bitcoin and Ethereum.

The Securities and Exchange Commission of Thailand announced 11 regulatory notifications on October 8. The framework will cover fund establishment, custody, investment management, and investor protection.

The implementation creates a path to market, but the announcement does not identify an ETF that has begun trading.

Important Read: Bitcoin ETFs Draw $2.65 Billion as October Opens With Inflows

Single-Asset Funds and Regulated Custody

According to the announcement, a crypto ETF should meet the following management criteria:

• Passive Structure: It should passively track the market price of its underlying cryptocurrency.
• 80% NAV Requirement: It should maintain an average net exposure of at least 80% of NAV to a single digital asset throughout each accounting year.

Bitcoin and Ethereum are the only assets initially permitted. The annual averaging requirement means the threshold should not be described as a fixed daily allocation.

Crypto ETFs will be safeguarded only by DA custodians regulated by the SEC. Asset managers seeking to establish products should demonstrate adequate staffing, operational systems, and service-provider arrangements.

The ETFs will be listed and traded exclusively on the Stock Exchange of Thailand (SET). Investors are required to receive product education and acknowledge that they understand the relevant risk before trading.

In addition, securities companies cannot provide margin loans to finance crypto ETF purchases. They should emphasize appropriate asset allocation and investment decisions consistent with investors’ risk tolerance.

Domestic Access Expands for Funds

The SEC has also amended the regulations to allow mutual funds and private funds to invest in Thai crypto ETFs, subject to the existing investment limits. Previously, those funds were permitted to invest only in foreign crypto ETFs.

Asset managers should disclose sufficient information to enable investors to understand the ETFs’ structure, characteristics, investment mechanisms, relevant service providers, and specific risks.

Any outsourced digital asset investment management should go to a licensed digital asset fund manager.

The regulatory authority said the framework aims to broaden investment opportunities and develop Thailand’s crypto ETF market, while prioritizing investor protection.

Public consultations took place during April-May and August September, with most respondents supporting the proposals.

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