Thailand SEC: crypto ETF interest, but no applications yet

Thailand's new framework for spot cryptocurrency ETFs has drawn interest from asset managers, but no company has yet applied to launch one, the country's Securities and Exchange Commission said in a statement to Cointelegraph on Thursday. The rules took effect on Oct. 16, as we reported in Thailand's Bitcoin and Ether ETF rules take effect.

What the SEC said

• "Several" asset management companies have approached the regulator for consultations about setting up crypto ETFs. The SEC did not name them.
• "However, no asset management company has yet submitted an application for approval to establish a crypto ETF," the regulator said.
• It is too early to say whether any product will be approved before the end of 2026. Timing depends on how ready applicants are, the regulatory review and investor-protection requirements.

Why the gap between rules and launches

An ETF under the Thai framework is not a quick product to assemble. Managers need a supervised local digital-asset custodian, a single-coin passive structure that keeps average exposure of at least 80% of net asset value to BTC or ETH, a listing on the Stock Exchange of Thailand, and investor risk checks before first trades. Brokers are also barred from offering margin loans on these funds. Lining up custody contracts and the exchange listing alone can take months.

What Thai investors can buy today

Bitcoin exposure already exists through feeder-style funds. ONE Asset Management became the first Thai manager approved for a bitcoin ETF-linked fund in 2024, and MFC Asset Management later launched a fund investing via BlackRock's iShares Bitcoin Trust (IBIT). A locally listed spot ETF would hold the coins in Thailand instead of buying a US fund. For the pros and cons of each route, see bitcoin ETF vs buying bitcoin and our explainer on crypto ETF vs ETP vs ETN.