Thailand's SEC Unveils Draft Regulations for Crypto ETFs

Thailand's Securities and Exchange Commission (SEC) has released draft regulations for crypto exchange-traded funds (ETFs), seeking public comment. The proposed rules aim to establish guidelines for legitimate spot crypto ETFs, with Bitcoin (BTC) and Ethereum (ETH) funds being the initial focus.

The SEC wants asset management companies to operate these funds, which must comply with existing regulatory frameworks. Thai-centric crypto funds will be allowed, as well as foreign ETFs like Blackrock's IBIT. However, wrapped-style funds will not be permitted initially.

The proposed regulations also require crypto ETFs to be listed and traded exclusively on the Stock Exchange of Thailand (SET). This announcement is a significant step towards making crypto investments accessible to Thai retail investors, whereas previously only high-net-worth and institutional investors had access to such products.