Thailand Moves Closer to Bitcoin and Ether ETFs with Draft Regulations

The Securities and Exchange Commission of Thailand has released draft regulations for locally listed spot Bitcoin and Ether exchange-traded funds (ETFs), marking a significant step towards making cryptocurrencies more accessible to Thai investors.

The proposed rules would allow asset managers to establish passive ETFs tracking BTC or ETH, with the first phase focusing on these two eligible crypto assets. The ETFs would need to maintain an average net exposure of at least 80% of their net asset value to the underlying asset over each accounting year.

The SEC is also revising its approach to foreign digital asset custodians, proposing that they be supervised by a regulatory authority with legal powers and operate under standards deemed adequate by the Thai regulator. The new framework aims to make Thailand a global hub for institutional investment in digital assets.