Thailand SEC drafts rules for spot Bitcoin and Ether ETFs

Thailand’s Securities and Exchange Commission (SEC) has released draft regulations for spot Bitcoin and Ether exchange-traded funds (ETFs) to be listed on the Stock Exchange of Thailand (SET). The regulator is currently seeking public feedback on two consultation papers, with the window open until September 20.

Under the proposed framework, ETFs would be passive and track only a single cryptocurrency. To ensure performance remains closely aligned with the underlying assets, the draft rules require funds to maintain an average net exposure of at least 80% of their net asset value to the tracked cryptocurrency each accounting year.

The SEC is also revising its approach to digital asset custody following feedback from an earlier consultation in April. In the initial phase, the framework emphasizes the use of onshore digital asset custodians, allowing qualified foreign custodians only when necessary. While mutual and private funds may invest in Thai-domiciled crypto ETFs, the regulator is not proposing products tied to foreign crypto ETFs at the launch stage.