Thai mutual funds can buy local bitcoin and ether ETFs from October 16

Thailand’s Securities and Exchange Commission has cleared Thai mutual funds and private funds to buy bitcoin and ether ETFs listed on the Stock Exchange of Thailand.

The rules take effect October 16.

The SEC’s 11 notifications bar depositary receipts tied to overseas products

Until now, the funds could only invest in crypto ETFs issued abroad. The SEC said current investment limits remain in place.

The SEC issued the framework on October 8, via 11 regulatory notifications. For now, only bitcoin and ether are eligible.

Any future additions will be contingent on liquidity, market acceptance, blockchain network security and investor protection, the regulator said.

In the initial stage, depositary receipts related to international crypto ETFs are not permitted.

Brokers still can’t facilitate foreign crypto ETF investments by clients outside the institutional and ultra-high-net-worth cohorts.

Nirun Fuwattananukul, CEO of Binance Thailand, said that buying via an existing brokerage account removes a hurdle for investors wary of exchange accounts and wallets. Before any launch, issuers still require fund registration, product approval, a SET listing and custody, he said.

October 16 is the date the framework takes effect, not a confirmed first trading day.