Thailand opens door to locally listed bitcoin and ether ETFs — SkimNews
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- Thailand's SEC issued rules on Thursday permitting local asset managers to launch bitcoin and ether ETFs on the Stock Exchange of Thailand, effective Oct. 16
- The funds must invest at least 80% of net assets in a single eligible cryptocurrency and hold crypto with custodians regulated by Thai authorities
- Bitcoin and ether are the only initially eligible cryptocurrencies, and investors must confirm they understand the risks before buying
- Brokers are prohibited from lending clients money for crypto purchases, and retail investors are initially barred from products offering indirect access to foreign crypto ETFs such as depositary receipts
- Mutual funds and private funds can invest in Thai crypto ETFs under existing investment limits, and asset managers may outsource crypto investment management to licensed digital-asset fund managers
- Thailand has roughly 20% crypto users per capita, exceeding the U.S. rate of 13% and ahead of Nigeria, the Philippines, and South Africa at approximately 19.4% each
Why it matters: Thailand's roughly 20% per-capita crypto adoption — well above the U.S.'s 13% — signals meaningful retail demand that has until now been forced into foreign products or direct trading. The Oct. 16 launch gives that base a domestic regulated vehicle, while the explicit retail block on foreign-crypto-ETF wrappers aims to keep Thai capital inside local fund structures.
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