Thailand SEC opens public comment on crypto ETF framework through September 20

The consultations put out by the Thailand SEC are at least two steps from being finalized as a formal rulebook. The regulator still needs to collect comments, revise recommendations, and then decide whether to authorize the products.

The August draft by the SEC follows its April consultation, where comments, most of which backed the regulator’s plan on custody arrangements, helped officials adjust parts of the original design.

No final approval or launch date commitments have been confirmed.

Only Bitcoin and Ethereum clear the bar in Thailand

The first phase of Thailand’s crypto ETF design plan only features the top two digital assets, Bitcoin and Ethereum, and will trade exclusively on the Stock Exchange of Thailand.

The draft also requires licensed asset managers to run each fund as a passive vehicle that tracks the price of a single crypto asset and maintains an average net exposure of at least 80% of net asset value to its underlying coin in each accounting year.

Investor protection stipulations also apply, with disclosures on structure, risks, and service providers all named as requirements in the draft.

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