Thailand clears locally listed bitcoin and ether ETFs

Thailand's securities regulator has issued rules allowing local asset managers to launch exchange-traded funds tracking bitcoin or ether, opening a regulated route to crypto exposure through the country's stock exchange. The rules take effect Oct. 16.

• Funds must trade on the Stock Exchange of Thailand, track a single cryptocurrency with at least 80% of net assets in that asset; bitcoin and ether are the only initially eligible assets.
• Investors must confirm they understand the risks before buying, brokers cannot lend clients money for crypto purchases, and holdings must sit with Thai SEC-regulated custodians.
• Mutual and private funds may invest in the ETFs subject to existing limits, while the initial phase bars products that give non-institutional clients indirect access to foreign crypto ETFs.

The move gives Thai investors a domestic ETF option after the country previously allowed only institutional and wealthy investors to access foreign crypto ETFs.