Thailand is opening a new path for investors to access Bitcoin and Ether through the stock market, as the country finalizes regulations for cryptocurrency exchange-traded funds (ETFs).
Thailand’s Securities and Exchange Commission (SEC) has finalized rules allowing crypto ETFs to be listed on the Stock Exchange of Thailand (SET), with the new framework scheduled to take effect on October 16, 2026. Initially, the regulations will permit ETFs linked only to Bitcoin and Ether, the two largest cryptocurrencies by market capitalization.
The move represents an important step in bringing digital assets closer to Thailand’s traditional financial market. Instead of purchasing cryptocurrencies directly through digital asset exchanges, investors will be able to gain exposure through regulated investment funds traded on the country’s main stock exchange.
Attakrit Chimphlapibul, co-founder of Bitkub Group, highlighted the potential benefits of the development.
“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 told the media.
The SEC said the new regulations aim to expand access to crypto investments, strengthen domestic market operators and support the development of Thailand’s crypto ETF market while maintaining investor protection.
New Rules Set Strict Standards for Funds and Investor Protection
Under the new framework, crypto ETFs must follow a passive investment strategy designed to track the price of a single cryptocurrency.
Each fund must maintain an average net exposure of at least 80% of its net asset value to that cryptocurrency over each accounting year.
Fund managers must also demonstrate that they have sufficient personnel, operational systems, and qualified service providers to manage these products.
In addition, fund assets must be held by digital asset custodians regulated by the SEC, helping ensure that cryptocurrency holdings are managed under established supervisory requirements.
The rules also introduce measures to reduce risks for investors. Brokers are prohibited from providing margin loans for crypto ETF purchases, preventing investors from borrowing through their securities brokers to finance these investments.
Before trading, investors must receive information explaining how crypto ETFs work and the risks involved. They must also confirm that they understand these risks. Securities companies are expected to encourage suitable asset allocation and investment decisions based on each client’s risk of tolerance.
Domestic Investment Opportunities Expand, but Foreign Products Remain Restricted
The SEC has also revised its regulations to allow Thai mutual funds and private funds to invest in locally established crypto ETFs, subject to existing investment limits. Previously, these funds could invest only in foreign crypto ETFs.
However, the initial framework places restrictions on overseas products. Securities linked to foreign crypto ETFs, including depositary receipts, will not be permitted during the first phase.
Thai securities companies will also remain barred from facilitating investments in overseas crypto ETFs for retail clients outside the permitted institutional and ultra-high-net-worth investor categories.
Bitcoin and Ether are the only eligible assets at launch, although the SEC may consider additional cryptocurrencies in the future. Potential eligibility will depend on factors such as liquidity, market acceptance, network security, and investor protection.
The regulations follow public consultations held between April and May and again between August and September. According to the SEC, most respondents supported the proposed principles and draft rules.
