Thailand SEC sets Oct. 16 rules for bitcoin, ether ETFs

Thailand’s Securities and Exchange Commission has issued 11 notifications setting rules for crypto exchange-traded funds, creating a framework for funds that track bitcoin or ether to list on the Stock Exchange of Thailand from Oct. 16. The SEC’s announcement says the rules also cover who may manage and safeguard the funds.

How will a Thai crypto ETF work?

An asset management company (AMC) will establish and manage the ETF as a passive fund designed to track the price of one crypto asset. The SEC requires each fund to keep average net exposure to that asset at or above 80% of net asset value over each accounting year. Bitcoin and Ethereum are the only eligible assets at the initial stage.

The fund’s assets must be held by digital asset custodians regulated by the SEC. An AMC may outsource digital asset investment management, but only to a licensed digital asset fund manager. The AMC must also show it has suitable staff, operating systems and service-provider arrangements to run the fund securely and in an orderly way.

What protections apply before investors trade?

Crypto ETFs must be listed and traded exclusively on the Stock Exchange of Thailand. Investors must receive education about the products’ characteristics and risks, then acknowledge that they understand those risks before trading. Securities firms must emphasize diversification and risk tolerance, and may not lend investors money to buy the ETFs.

The AMC must disclose how the fund is structured, how it invests, who provides its services and what specific risks it carries. Qualified digital asset businesses may apply to act as mutual fund supervisors for crypto ETFs, but must meet requirements for financial standing, staffing and operating systems. Digital asset custody must still be performed by an SEC-licensed custodian, including when a supervisor appoints a sub-custodian.

Does Oct. 16 mean trading starts that day?

The SEC says the 11 notifications take effect on Oct. 16, 2026. That date brings the regulatory framework into force; the announcement does not identify a first trading date for any particular fund.

The rules also let Thai mutual funds and private funds invest in locally established crypto ETFs, subject to existing investment limits. During the initial phase, firms cannot offer depositary receipts tied to foreign crypto ETFs or arrange foreign ETF investments for clients outside the institutional and ultra-high-net-worth categories. The framework therefore sets the permitted structure, service providers and investor safeguards before any specific Thai crypto ETF is identified.

Sources

• SEC’s announcement — sec.or.th