Thailand proposes BTC, ETH spot ETF framework favoring domestic institutions

Thailand’s SEC has proposed a regulatory framework that would first allow passive funds tracking Bitcoin or Ethereum as single-asset ETFs, while giving structural advantages to domestic financial institutions. Under the proposal, newly created ETFs could be listed only on the Stock Exchange of Thailand, while custody would also need to be entrusted primarily to local custodians regulated by Thailand’s SEC. The framework is seen as setting local listed ETFs as the most direct investment route by partly limiting retail access to products linked to overseas ETFs. As a result, Thai licensed custodians and asset managers such as Rakka Digital and Orbix are expected to gain an early foothold in the market. Public comment will run through Sept. 20, and the rules are set to take effect in the second half of 2026.