$ETH Thailand’s spot ETF rules take effect on 10/16, yet the price is stuck around 2489?
Thailand’s SEC has issued rules for crypto ETFs, effective October 16:
Initially, they may only track Bitcoin and Ethereum;
On average, at least 80% of a fund’s net assets must be invested in a single asset over the course of a year;
They may only be traded on the Stock Exchange of Thailand, and custodians must be regulated by the SEC.
What does this mean?
Asia now has another local, compliant avenue for buying ETH.
It doesn’t mean buying pressure will pour in right away, but it gives institutions and asset managers another way in over the medium to long term.
As for the spot market, $ETH is around 2489, up 0.64% over 24 hours, with an intraday high near 2520 and a low near 2471.
Levels to watch (not a recommendation):
If it holds above 2500, watch to see whether it can reach the intraday high; if it falls below around 2470, be prepared for more short-term bottoming.
Are you more focused on the rules taking effect on 10/16, or on the price still treading water? Share your thoughts in the comments. $ETH
Thailand’s SEC has issued rules for crypto ETFs, effective October 16:
Initially, they may only track Bitcoin and Ethereum;
On average, at least 80% of a fund’s net assets must be invested in a single asset over the course of a year;
They may only be traded on the Stock Exchange of Thailand, and custodians must be regulated by the SEC.
What does this mean?
Asia now has another local, compliant avenue for buying ETH.
It doesn’t mean buying pressure will pour in right away, but it gives institutions and asset managers another way in over the medium to long term.
As for the spot market, $ETH is around 2489, up 0.64% over 24 hours, with an intraday high near 2520 and a low near 2471.
Levels to watch (not a recommendation):
If it holds above 2500, watch to see whether it can reach the intraday high; if it falls below around 2470, be prepared for more short-term bottoming.
Are you more focused on the rules taking effect on 10/16, or on the price still treading water? Share your thoughts in the comments. $ETH