Thailand moves closer to Bitcoin, Ether ETFs with draft rules

Thailand’s SEC opened consultations on local Bitcoin and Ether ETF rules and qualification standards for foreign digital asset custodians.

Thailand’s Securities and Exchange Commission (SEC) has advanced its framework for locally listed spot Bitcoin and Ether exchange-traded funds (ETFs) from proposed principles to draft regulations while revising its approach to foreign digital asset custodians.

The regulator said Monday it is seeking feedback on two consultation papers. One contains draft regulations for Thai crypto ETFs, while the other proposes principles governing the qualifications of foreign digital asset custodians engaged by mutual and private funds investing in digital assets.

During the initial stage, asset managers could establish passive ETFs tracking Bitcoin (BTC) or Ether (ETH), the only two eligible crypto assets.

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