Thailand’s Securities and Exchange Commission on Thursday finalized rules that will allow crypto exchange-traded funds to list on the country’s main stock exchange, with Bitcoin and Ether set as the only eligible underlying assets in the initial phase.
The regulator said the framework will take effect on Oct. 16, 2026. Under the new rules, crypto ETFs must be listed and traded exclusively on the Stock Exchange of Thailand.
Thailand is not opening the door to every crypto-linked structure at once. Products connected to foreign crypto ETFs, including depositary receipts, will not be permitted at the start. Thai brokers also remain prohibited from facilitating investments in overseas crypto ETFs for retail investors, except for institutions and ultra-high-net-worth individuals.
Attakrit Chimphlapibul, co-founder of Bitkub Group, told Money and Banking on Thursday that the United States had already shown how spot crypto ETFs can broaden access. 「We have previously seen examples in the United States where the launch of the Spot Bitcoin ETF and Spot Ethereum ETF created new avenues for institutional and retail investors to easily access digital assets.」
A new stock-market route for Thai investors
The framework creates a domestic route for Thai investors to gain exposure to Bitcoin and Ether through the stock market. The SEC also amended its rules to let mutual funds and private funds invest in crypto ETFs established in Thailand. Previously, those funds were allowed to invest only in foreign crypto ETFs.
Margin lending is barred and custody rules are set
The new regime prohibits brokers from providing margin loans to finance purchases of crypto ETFs. It also requires fund assets to be held with digital asset custodians regulated by the SEC.
Before trading, investors must receive information about the products and confirm that they understand the risks involved.
Passive structure and single-asset exposure requirement
Crypto ETFs approved under the framework must be managed as passive investment vehicles designed to track the price of the crypto asset they hold. Each fund must maintain net exposure to a single cryptocurrency averaging at least 80% of net asset value over each accounting year.
SEC says most feedback backed the proposal
The SEC said it consulted on the proposed principles in April and May, then sought feedback on draft regulations in August and September. According to the regulator, most respondents supported the proposals.