Thailand Proposes Rules for Local Bitcoin and Ether ETFs

Thailand's Securities and Exchange Commission has proposed draft rules for local Bitcoin and Ether exchange-traded funds (ETFs).

The proposed ETFs would trade exclusively on the Stock Exchange of Thailand, with each fund tracking one crypto asset.

Each ETF would need average net exposure of at least 80% of its assets to the tracked cryptocurrency, according to the draft rules.

The framework supports Thailand's ambition to become a global digital asset hub for institutional investors, as stated by the SEC.

The proposed framework would allow asset managers to launch passive ETFs tracking only Bitcoin (BTC) or Ether (ETH).