Thailand advances spot Bitcoin and Ether ETF draft rules
Thailand advances spot Bitcoin and Ether ETF plans into draft regulation, with an 80% average net exposure floor. The SEC opened consultations on locally listed, passive single-asset funds that would trade only on the Stock Exchange of Thailand, keeping onshore custodians as the primary custody option while comments run through Sept. 20.
Key Takeaways
- Thailand’s SEC moved spot Bitcoin and Ether ETF rules from principles to draft regulations.
- Each fund must keep average net exposure of at least 80% of NAV to its underlying asset per accounting year.
- Initial products would be passive, single-asset ETFs listed only on the Stock Exchange of Thailand.
- Onshore digital asset custodians remain the default; qualified foreign custodians may be allowed when appropriate.
- Public feedback on both consultation papers is open until Sept. 20, 2026.
The move matters because it shifts Thailand from high-level policy talk toward a concrete product rulebook that could put regulated crypto ETFs on a national stock exchange. For more coverage of regulated digital-asset products, see our Fintech & Crypto Alerts hub.
What did Thailand’s SEC announce on spot Bitcoin and Ether ETFs?
According to reporting that matches the regulator’s Monday update, Thailand’s Securities and Exchange Commission advanced its framework for locally listed spot Bitcoin and Ether exchange-traded funds from proposed principles to draft regulations. Officials are seeking feedback on two consultation papers: draft rules for Thai crypto ETFs, and principles for foreign digital asset custodians used by mutual and private funds investing in digital assets.
The draft follows an April consultation on broader principles. The SEC said most respondents supported the framework but raised custody concerns, prompting a revised approach. The push sits within Thailand’s wider aim to become a global digital asset hub for institutions, as noted by Cointelegraph.
How would the 80% exposure floor and SET listing work?
Under the proposed rules, Bitcoin and Ether ETFs would trade exclusively on the Stock Exchange of Thailand. During the initial stage, asset managers could launch only passive ETFs tracking Bitcoin or Ether—the only eligible crypto assets—and each fund would track a single asset.
Each ETF would need average net exposure of at least 80% of its net asset value to that underlying cryptocurrency over each accounting year. Mutual funds and private funds could invest in Thai-domiciled crypto ETFs alongside foreign crypto ETFs already allowed under existing limits. Depositary receipts and other alternatives tied to overseas crypto ETFs would not be permitted in the first phase.
What changes on custody, and when does consultation close?
Onshore digital asset custodians would remain the primary providers for crypto ETFs initially. The SEC said it may permit qualified foreign digital asset custodians when necessary and appropriate. Separately, foreign custodians serving mutual and private funds would need supervision by a regulator with legal powers and standards the Thai SEC deems adequate.
Public comments on both papers run until Sept. 20, 2026. No launch date, ticker, or named issuer has been announced; final rules still depend on the consultation outcome.