Thailand Sets Oct. 16 Start for Bitcoin, Ether ETF Rules

Thailand’s Securities and Exchange Commission has created a regulated framework for locally established Bitcoin and Ether exchange-traded funds, with the rules taking effect Oct. 16 and opening a new stock-market route to crypto exposure in Asia.

The SEC issued 11 related notifications on Oct. 8 covering the initial eligible assets: Bitcoin (BTC) and Ether (ETH). The framework does not confirm that any ETF will begin trading Oct. 16, and no issuer, ticker or first-trading date has been identified.

Each fund must maintain average net exposure of at least 80% of its net asset value to one cryptocurrency over each accounting year. Products must use passive management designed to track the underlying asset, list and trade exclusively on the Stock Exchange of Thailand, and hold assets with digital-asset custodians regulated by the SEC.

Investors must receive product-risk information and confirm that they understand the risks before trading. Brokers cannot provide margin loans for crypto ETF purchases.

During the initial phase, Thai brokers also cannot facilitate retail investment in foreign crypto ETFs for clients outside the institutional and ultra-high-net-worth categories. Thai mutual funds and private funds may invest in Thailand-established crypto ETFs within existing limits. The framework takes effect Oct. 16.