Thailand Moves to Allow Locally Listed Bitcoin and Ether ETFs

Thailand’s updated cryptocurrency regulations will take effect on October 16, allowing domestic asset management firms to launch Bitcoin and Ether exchange-traded funds (ETFs) on the country’s stock exchange.

Thailand’s Securities and Exchange Commission (SEC) announced the new rules on Thursday, creating a regulated investment option for local investors seeking cryptocurrency exposure through traditional financial markets.

Under the framework, crypto ETFs must be listed on the Stock Exchange of Thailand and track a single cryptocurrency. At least 80% of each fund’s net asset value must be exposed to the underlying asset. Bitcoin and Ether will be the only cryptocurrencies eligible during the initial phase, according to the regulator.

Before purchasing these funds, investors must acknowledge that they understand the associated risks. Brokers are prohibited from lending money to clients to finance cryptocurrency purchases, while the funds’ digital assets must be stored with custodians regulated by Thailand’s SEC.

The new framework gives Thai investors access to locally listed crypto ETFs instead of requiring them to rely on overseas products or purchase cryptocurrencies directly. Previously, access to foreign crypto ETFs in Thailand was restricted to institutional and wealthy investors. The regulator indicated last year that it intended to expand investment opportunities beyond Bitcoin.

Thai asset managers will also be permitted to delegate cryptocurrency investment management to licensed digital-asset fund managers. In addition, regulated digital-asset custodians and other eligible companies can register as fund supervisors for crypto ETFs.

The SEC has revised existing regulations to allow mutual funds and private funds to invest in Thai-listed cryptocurrency ETFs, subject to established investment limits. However, the initial framework will exclude products that provide non-institutional investors with indirect exposure to foreign crypto ETFs, including depositary receipts.

The new rules bring Bitcoin and Ether into Thailand’s traditional investment and exchange infrastructure while maintaining additional safeguards covering custody, risk disclosures and investor suitability. The move follows the regulator’s plans in 2025 to expand its ETF offerings beyond Bitcoin.

Thailand also has a substantial cryptocurrency user base. According to the cited World data, approximately 20% of the country’s population owns cryptocurrency, compared with 13% in the United States. The reported ownership rate is also higher than the roughly 19.4% figures for Nigeria, the Philippines and South Africa.