Thailand has set the conditions for locally listed Bitcoin and Ether funds, including custody and investor checks. The announcement does not set a launch date for any individual ETF.
Thailand’s Securities and Exchange Commission has issued final rules for Bitcoin and Ether exchange-traded funds. According to its October 8 announcement, the package of 11 notifications takes effect on October 16, 2026. The funds will trade exclusively on the Stock Exchange of Thailand (SET).
The framework covers fund establishment, safekeeping of crypto assets and the conditions for selling the products to investors. The announcement does not identify an approved fund, ticker or first trading date.
Bitcoin and Ether funds come first
The ETFs will be passive vehicles designed to track the price of a selected crypto asset. Each fund must maintain average net exposure to that single asset of at least 80% of net asset value over an accounting year. Eligible assets initially comprise Bitcoin and Ether, the cryptocurrency of the Ethereum network.
The proportion is calculated as an annual average, not a fixed daily portfolio allocation. Each fund will track one asset rather than a basket combining Bitcoin and Ether.
October 16 is the rules’ effective date. No ETF is announced as beginning trading that day. Prospective fund managers must separately demonstrate readiness in staffing, operations and arrangements with service providers.
The SEC shared both the Thai and English versions of the decision through its official X account on October 8.
No margin loans, with custody kept under licence
Brokerages will not be allowed to provide margin loans to finance purchases of these ETFs. Investors must receive information about how the products work and their risks, then acknowledge that they understand those risks before trading. Securities firms are also instructed to address appropriate asset allocation and investors’ risk tolerance.
The funds’ crypto assets must be held by licensed digital asset custodians supervised by the SEC. Delegating safekeeping to a sub-custodian does not remove that licensing requirement. Using a foreign custodian would require further permission from the SEC, which says it may allow suitably qualified providers in the future.
If an asset management company outsources management of its digital asset investments, it may appoint only a licensed digital asset fund manager. Investor disclosures must explain the fund’s structure, investment mechanisms, service providers and specific risks.
Digital asset operators with sufficient staffing and operational systems may apply to register as mutual fund supervisors for crypto ETFs. That authorisation will not cover other mutual funds. Financial, staffing and systems requirements must be maintained throughout their appointment.
Limits on products tied to foreign crypto ETFs
Mutual funds and private funds will be allowed to invest in Thai crypto ETFs within their existing investment limits. Previously, their permission covered only foreign crypto ETFs.
However, the initial phase will not allow the issuance or sale of alternative products such as depositary receipts referencing foreign crypto ETFs. The restriction also covers securities firms facilitating foreign crypto ETF investments for clients outside the institutional and ultra-high-net-worth investor categories.
The SEC consulted on the principles in April–May and on the draft notifications in August–September 2026. The October 8 package contains the final rules following those consultations.
