Thailand opens door to locally listed bitcoin and ether ETFs

Thai assert managers may outsource crypto investment management to licensed digital-asset fund managers. Regulated digital-asset custodians and other qualified firms will also be able to register as fund supervisors for crypto ETFs.

The SEC also amended its rules to let mutual funds and private funds invest in Thai crypto ETFs, subject to existing investment limits. In the initial phase, it will not allow products that give non institutional clients indirect access to foreign crypto ETFs, such as depositary receipts.

The approach puts bitcoin and ether inside Thailand’s conventional fund and exchange framework but with additional custody, disclosure and suitability safeguards. It follows the regulator’s 2025 plan to expand its ETF offering beyond bitcoin.

Thailand reportedly has the most crypto users by country per capita with 20%, which is higher than the U.S.’ 13%. It is also above Nigeria, the Philippines, and South Africa, which all have approximately 19.4% crypto owners, according to World.