Thailand just officially greenlit Bitcoin and Ethereum ETFs.
The SEC dropped 11 notifications yesterday effective Oct. 16. Only Bitcoin and Ethereum for now and they can only trade on Thailand's main board the SET.
A few hard rules worth noting:
80% exposure is the floor. Each ETF must maintain at least 80% average net exposure to a single crypto asset in every accounting year. In essence this is passive tracking no active strategies allowed.
Custody must be with a Thai-regulated institution. Fund assets can only be held by SEC regulated digital asset custodians. The entire chain stays inside Thailand's regulatory perimeter.
Margin lending is banned. Brokers can't offer margin loans to investors buying crypto ETFs, consistent with Thailand's stance on direct crypto trading.
Foreign ETFs are locked out. Initially, depositary receipts and similar alternatives tied to overseas crypto ETFs aren't allowed, and retail investors can't buy foreign crypto ETFs through Thai brokers only institutions and ultra high net worth clients get that access. The design intent is clear keep the ecosystem domestic.
One other change local Thai mutual funds and private funds can now invest in Thai-domiciled crypto ETFs, where previously they could only buy offshore ones.
One thing to note Oct. 16 is when the rules take effect, not when ETFs list. Asset managers still need to apply for SEC approval individually before products actually hit the SET.
Thailand's move isn't early but the rule design is very Thailand build the walls first then open the door. Custody, trading, and investor protection all stay within the local regulatory system rather than plugging directly into overseas products. Bitkub co-founder Attakrit Chimphlapibul framed it this way the launch of U.S. spot Bitcoin and Ethereum ETFs gave institutions and retail new access channels, and Thailand is now walking a similar path.
Are you bullish on this domestic closed-loop crypto ETF model? Or does it limit liquidity?
#SolanaPlansToCutBlockTimesTo200ms #ThailandCrypto
The SEC dropped 11 notifications yesterday effective Oct. 16. Only Bitcoin and Ethereum for now and they can only trade on Thailand's main board the SET.
A few hard rules worth noting:
80% exposure is the floor. Each ETF must maintain at least 80% average net exposure to a single crypto asset in every accounting year. In essence this is passive tracking no active strategies allowed.
Custody must be with a Thai-regulated institution. Fund assets can only be held by SEC regulated digital asset custodians. The entire chain stays inside Thailand's regulatory perimeter.
Margin lending is banned. Brokers can't offer margin loans to investors buying crypto ETFs, consistent with Thailand's stance on direct crypto trading.
Foreign ETFs are locked out. Initially, depositary receipts and similar alternatives tied to overseas crypto ETFs aren't allowed, and retail investors can't buy foreign crypto ETFs through Thai brokers only institutions and ultra high net worth clients get that access. The design intent is clear keep the ecosystem domestic.
One other change local Thai mutual funds and private funds can now invest in Thai-domiciled crypto ETFs, where previously they could only buy offshore ones.
One thing to note Oct. 16 is when the rules take effect, not when ETFs list. Asset managers still need to apply for SEC approval individually before products actually hit the SET.
Thailand's move isn't early but the rule design is very Thailand build the walls first then open the door. Custody, trading, and investor protection all stay within the local regulatory system rather than plugging directly into overseas products. Bitkub co-founder Attakrit Chimphlapibul framed it this way the launch of U.S. spot Bitcoin and Ethereum ETFs gave institutions and retail new access channels, and Thailand is now walking a similar path.
Are you bullish on this domestic closed-loop crypto ETF model? Or does it limit liquidity?
#SolanaPlansToCutBlockTimesTo200ms #ThailandCrypto