Thailand’s Securities and Exchange Commission has finalized its rules for Bitcoin ETFs, which will take effect on October 16. Bitcoin is included among the eligible assets in the first phase. Under the rules, the average net exposure of the relevant funds in each financial year must be at least 80% of their net asset value; custodians must be licensed by the Thai SEC; fund units may be traded only on the Stock Exchange of Thailand; and securities companies may not offer margin financing. Thai mutual funds and private funds will be permitted to invest in locally listed cryptocurrency ETFs, but the issuance and offering of depositary receipts linked to overseas cryptocurrency ETFs will be prohibited initially.

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