The Securities and Exchange Commission of Thailand has issued new regulations for regulating cryptocurrency ETFs, with the first phase limited to investing only in Bitcoin and Ethereum

The Thai Securities and Exchange Commission has released 11 regulatory regulations for cryptocurrency ETFs, which will take effect on October 16th. In the first stage, ETFs are only allowed to invest in Bitcoin and Ethereum and adopt passive investment strategies. The annual average net exposure of a single cryptocurrency asset shall not be less than 80% of the fund's net assets, and the assets shall be held by regulated digital asset custodians. The new regulations allow mutual funds and private equity funds to invest in Thai domestic cryptocurrency ETFs, prohibit securities firms from providing financing purchase services, and in the first stage, securities firms are not allowed to provide overseas cryptocurrency ETF investment services to clients other than institutional investors and ultra-high net worth investors.