Thailand has opened the door to cryptocurrency exchange-traded funds (ETFs). Investors will be able to gain indirect exposure to Bitcoin and Ether on the nation’s stock exchange without having to buy and store the crypto assets.
The Securities and Exchange Commission (SEC) said the rules would take effect on 16 October 2026. Initially only Bitcoin and Ether ETFs will be allowed, and these would have to be listed on the Stock Exchange of Thailand.
Thai mutual funds and private funds will also be able to invest in the locally-listed crypto ETFs, meaning that investors can gain indirect exposure to crypto prices without holding the underlying assets.
THE BLOCK: Thailand’s SEC issued 11 notifications establishing rules for crypto ETFs, with the framework taking effect Oct. 16.
Initial eligible assets are bitcoin bitcoin:native and ether ethereum:native, with funds required to maintain average net exposure of at least 80% of net asset value to a single asset.
— The Block (@TheBlockCo) October 9, 2026
Trading will not start immediately once the rules come into force, as fund issuers will have to be registered, receive regulatory approval, and secure a listing on the exchange, while also making arrangements for the safekeeping of the assets.
The SEC has implemented various investor protections. The funds will have to hold their assets in digital asset custodians appointed by the commission, and brokers will not be able to lend cash to investors buying these ETFs.
ETFs will have to be passive in nature and designed to track crypto prices rather than seek to beat them. For each crypto fund, the average exposure to a single cryptocurrency would have to be at least 80 per cent of the net asset value during the course of a financial year.
Products linked to overseas-listed crypto ETFs, such as depositary receipts, would not be able to trade in Thailand. Thai brokers will not be allowed to facilitate purchases of overseas-listed crypto ETFs by ordinary retail investors, although institutional investors and ultra-high-net-worth individuals would be able to access a limited number of exemptions.
The SEC said that in general respondents to a consultation process earlier this year supported the proposals. How successful the products are will ultimately come down to pricing, the degree to which they track crypto prices, and how well investors understand the risks.
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