Thailand will allow mutual funds and institutional investors to offer multi-asset cryptocurrency ETFs, expanding beyond its current focus on Bitcoin.
The Securities and Exchange Commission (SEC), led by Secretary-General Pornanong Budsaratragoon, is drafting rules permitting ETFs to hold a basket of digital assets, including altcoins like Ethereum and Solana. The new initiative is expected to be launched early next year.
“Our possibility now is to broaden the criteria for the crypto, such as a basket of cryptocurrencies,” Pornanong said. “We want to have a broader supply of those crypto assets in the ETFs.”
The move follows Thailand’s approval of its first Bitcoin ETF in 2024 and aims to integrate tokenized products into mainstream investment portfolios. Previously, investors could only buy tokens directly or invest in funds that purchase overseas crypto ETFs. Domestic multi-asset ETFs will offer regulated, local exposure.
The expansion targets younger investors and aims to strengthen Thailand’s position as a regional digital asset hub. By the end of 2024, there were over 270,000 active crypto accounts which indicated growing local demand. The initiative also comes amid a 7.6% decline in the Thai stock market, making crypto an attractive diversification option.
At the same time, the SEC is pushing a bill to expand oversight powers, enabling regulators to suspend major transactions and investigate cases like insider trading more effectively. The legislation has passed the prime minister’s law-drafting body and is currently under discussion with the new government.
Industry players, including Binance and Kasikornbank, support the expansion, while former Prime Minister Thaksin Shinawatra has promoted integrating cryptocurrencies into Thailand’s financial system.
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