Overview
- The Securities and Exchange Commission opened public consultations on Aug. 24 for draft rules that would allow locally established spot Bitcoin and Ether ETFs, and the consultation runs through Sept. 20.
- Under the draft each fund would be a passive, single‑asset ETF tracking either Bitcoin or Ether and must maintain an average net exposure of at least 80% of net asset value to its underlying crypto over each accounting year.
- Every proposed ETF would list only on the Stock Exchange of Thailand and the rules favor custody with SEC‑regulated Thai digital‑asset custodians while giving the SEC limited discretion to approve qualified foreign custodians from specified jurisdictions.
- Only licensed Thai asset managers may apply to run the funds and they must show operational readiness, named service providers and custody arrangements; investors would face extra disclosures and must acknowledge they understand the product risks before trading.
- The consultation does not approve any ETF or set launch dates and leaves open changes to eligible assets, providers and technical rules; if adopted the framework could channel trading, custody fees and market‑making activity to Thailand while regulators assess domestic capacity.