28th August 2026
By Shubhii Verma
Thailand is taking another step toward integrating cryptocurrencies into its regulated financial markets, with the Securities and Exchange Commission (SEC) seeking public feedback on proposed rules for cryptocurrency exchange-traded funds (ETFs).
On August 24, Thailand’s SEC announced consultations covering draft regulations for digital-asset ETFs and revised eligibility requirements for foreign custodians. The proposals could create a regulated pathway for Thai investors to gain exposure to spot Bitcoin and Ethereum through ETFs listed on the Stock Exchange of Thailand (SET).
Bitcoin and Ethereum Could Become First Eligible Crypto Assets for ETFs
Under the proposed framework, Bitcoin (BTC) and Ethereum (ETH) would be the first cryptocurrencies eligible for ETF products. The SEC indicated that other digital assets could potentially qualify in the future if they meet the regulator’s requirements.
The proposed crypto ETFs would need to be established and managed by licensed asset management companies. They would also have to comply with Thailand’s existing ETF regulations, rules governing investment in digital assets by mutual funds and additional investor-protection requirements.
Thailand Plans to Integrate Crypto ETFs Into Traditional Securities Markets
The framework is designed to bring cryptocurrency investment closer to Thailand’s conventional securities market rather than creating a separate investment structure for digital assets.
Foreign crypto ETFs could also potentially be considered under the proposed rules. However, asset managers would need to demonstrate that their operational, custody and risk-management arrangements meet Thai regulatory requirements.
A key part of the proposal is that cryptocurrency ETFs would be listed and traded exclusively on the Stock Exchange of Thailand.
The SEC also appears to favour domestic custody arrangements, although foreign custodians could potentially be permitted where considered necessary and appropriate. This approach would give Thai regulators greater oversight of how digital assets backing the ETFs are held and managed.
The custody requirements are particularly important for spot ETFs because the underlying funds would hold actual cryptocurrency rather than simply using derivative exposure.
Thailand has already allowed a Bitcoin ETF-related product. In June 2024, the SEC approved the ONE Bitcoin ETF (ONE-BTCETFOF-UI), but that product was restricted to wealthy and institutional investors.
The earlier product also operated as a fund-of-funds structure and did not directly hold Bitcoin.
The latest proposal represents a significant potential shift. It focuses on spot crypto ETFs that hold actual Bitcoin or other eligible digital assets, while creating a framework that could make these products available to retail investors.
If the rules are adopted, Thai retail investors could gain access to Bitcoin and Ethereum through a familiar securities-market structure instead of purchasing and storing cryptocurrencies directly.
Investors would potentially be able to buy ETF units through the traditional securities market while relying on regulated asset managers and custodians to handle the underlying digital assets.
Potential Impact on Thailand’s Digital Asset Industry
For Thailand’s crypto industry, the move could also increase institutional participation and strengthen the connection between the country’s traditional capital markets and digital-asset ecosystem.
The SEC is now seeking feedback from stakeholders and the public before finalising the regulations. If approved, the framework could mark another important step in Thailand’s evolving approach to cryptocurrency regulation and make regulated spot crypto investment more accessible to a broader group of investors.
