Thailand's financial regulator has moved its framework for locally listed spot Bitcoin and Ether ETFs from principles to draft rules. On Monday (Aug 25), the country's Securities and Exchange Commission (SEC) opened a feedback period on two consultation papers. One covers draft rules for Thai BTC and ETH exchange-traded funds. The other covers qualifications for foreign digital asset custodians engaged by mutual and private funds investing in digital assets.
In the initial stage, asset managers could launch passive ETFs tracking only BTC or ETH, the only two eligible crypto assets. Reported consultation details include an 80% average net exposure threshold and local exchange listings. The consultation closes Sept 20.
The SEC had first floated the idea in April via a consultation on proposed principles. The move is part of Thailand's broader ambition to position itself as a digital asset hub for institutional players.
Thailand SEC (via Cointelegraph)