Thailand's Bitcoin ETF Rules to Take Effect on October 16, Fund Net Exposure Must Reach 80%

The Securities and Exchange Commission of Thailand has completed the formulation of Bitcoin ETF rules, which will take effect on October 16. Bitcoin has been included as a qualified asset in the first phase. According to the rules, the average net exposure of the relevant funds for each accounting year must reach at least 80% of the net asset value. Custodians must be licensed by the Securities and Exchange Commission of Thailand, and fund shares can only be traded on the Stock Exchange of Thailand, with securities companies prohibited from providing margin financing. Thai mutual funds and private funds will be allowed to invest in locally listed cryptocurrency ETFs, but the issuance and provision of depositary receipts related to overseas cryptocurrency ETFs are prohibited in the initial stage.

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