POPA ReconThailand's SEC and crypto ETFs: what was finalized, and when it starts
Thailand's SEC has finalized the framework for Bitcoin and Ether ETFs on the Stock Exchange of Thailand (SET). The rules take effect October 16, 2026, but no fund can list until an asset manager gets SEC approval for its product (Cointelegraph, Crypto Briefing via TradingView). Some social posts say the ETFs are "approved for trading from October 16". That overstates it: the rules are in force from that date, and individual products still need approval.
Rules for the funds
A fund must be passive and track the price of the crypto asset it holds. It must keep net exposure to a single cryptocurrency averaging at least 80% of net asset value over each accounting year (Cointelegraph).
Fund assets must be held with SEC-regulated (licensed) digital asset custodians, including when a sub-custodian is used. The SEC may allow qualified foreign custodians later.
The funds are listed exclusively on the SET.
Digital asset custodians and other qualified digital asset operators can apply to become mutual fund supervisors for crypto ETFs. They must meet financial, personnel and operational requirements, and their role is limited to crypto ETFs (Crypto Briefing).
Which assets are eligible in future will depend on liquidity, market acceptance, network security and investor protection (same source). The coverage names Bitcoin and Ether as the first assets.
Investor protections
Before trading, investors must receive education on the product's features and risks and confirm they understand them.
Securities companies must encourage suitable asset allocation based on each client's risk tolerance.
Margin loans to buy crypto ETFs are prohibited.
Wider scope
Thai mutual funds and private funds may now invest in domestic crypto ETFs, within existing investment limits.
In the initial phase there will be no depositary receipts or other products linked to foreign crypto ETFs. Securities companies also may not help clients outside the institutional and ultra-high-net-worth categories invest in foreign crypto ETFs.
Process
The SEC consulted on principles in April and May and on draft regulations in August and September. It says most respondents supported the proposals.
Not established
The sources do not name any asset manager, product or listing date. They give only the October 16 effective date for the rules.