PANews, August 25—According to an announcement dated August 24 by the Thailand Securities and Exchange Commission (SEC), the SEC is seeking public comments on a regulatory draft for Thailand’s crypto currency ETFs and a proposal to raise the qualification requirements for overseas digital asset custodians appointed by funds. The public consultation period runs until September 20.

The draft stipulates that crypto ETFs must be set up and managed by an asset management company. They will serve as passive investment instruments tracking the price of crypto assets. The annual average net exposure to any single crypto asset must not be less than 80% of the fund’s net asset value. At the initial stage, eligible assets are limited to Bitcoin and Ethereum. The products may only be traded on the Thailand Stock Exchange, and assets must primarily be held by onshore digital asset custodians regulated by the Thailand SEC. In the future, the Thailand SEC may, when necessary and appropriate, allow the use of qualified offshore digital asset custodians. In addition, mutual funds and private funds will be permitted to invest in Thailand’s domestic crypto ETFs, but they will still be subject to existing investment limits.