Thailand greenlights $BTC and $ETH ETFs, but don't ask your broker to phone a friend abroad 📞

Thailand's Securities and Exchange Commission has finalized regulations permitting crypto exchange-traded funds to list on the country's main stock exchange, opening a regulated path for local investors to gain exposure to Bitcoin and Ether. The rules, published Thursday, will take effect on Oct. 16, 2026, and limit initial listings to funds tracking $BTC and $ETH.

Under the framework, crypto ETFs must be listed for trading exclusively on the Stock Exchange of Thailand. Products linked to foreign crypto ETFs, including depositary receipts, will not be permitted in the initial phase, and Thai brokers will remain barred from facilitating investments in overseas crypto ETFs for retail investors outside institutions and ultra-high-net-worth individuals. "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," Attakrit Chimphlapibul, co-founder of Bitkub Group, told Money and Banking on Thursday.

The SEC also amended its rules to allow mutual funds and private funds to invest in Thai-established crypto ETFs, whereas previously they could invest only in foreign crypto ETFs. The regulator stated that the framework prohibits brokers from providing margin loans to purchase crypto ETFs and requires fund assets to be held with SEC-regulated digital asset custodians. Investors must receive information about the products and confirm that they understand the risks before trading.

Crypto ETFs must be managed as passive investment vehicles seeking to track the price of the underlying digital asset, maintaining net exposure to a single cryptocurrency averaging at least 80% of net asset value over each accounting year. The SEC consulted on the proposed principles in April and May and on draft regulations in August and September, with most respondents supporting the proposals.