Thailand SEC Updates Spot BTC and ETH ETF Draft, Rethinks Foreign Custodians

TL;DR

• Thailand’s SEC advanced spot Bitcoin and Ether ETF plans into draft regulations, with passive single-asset funds proposed for listing exclusively on the Stock Exchange of Thailand.
• Each ETF would need at least 80% average net exposure to its underlying crypto asset, while domestic funds could invest under existing limits.
• Onshore custodians remain the default, but qualified foreign providers could be permitted if regulatory and investor-protection standards are considered fully adequate.

Thailand’s Securities and Exchange Commission has moved closer to allowing locally listed spot Bitcoin and Ether ETFs, advancing its framework from broad principles to draft regulations while reopening questions around foreign digital asset custody. The regulator is seeking public feedback on two consultation papers covering ETF rules and custodian qualifications. The notable shift is that Thailand is moving from conceptual support toward a structure that could place crypto ETFs directly on its national stock exchange. During the initial phase, asset managers would be limited to passive products tracking only Bitcoin or Ether.

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