Thailand’s securities regulator says several asset management companies have already opened consultations on spot crypto exchange-traded funds, following the start of new rules that permit such products in the local market.

The Securities and Exchange Commission of Thailand said, however, that no formal application has been submitted so far. It also said it is still too early to judge whether the first locally listed spot Bitcoin or Ether ETFs could be approved before the end of 2026.

New rules take effect

Thailand’s updated crypto ETF framework took effect on Friday, creating a path for asset managers to launch locally listed spot Bitcoin and spot Ether ETFs. The change marks a new stage for the domestic market, where investors have until now had more limited routes to regulated crypto exposure.

Under the new rules, the products in question would be based on spot BTC and ETH rather than futures. The SEC indicated that market participants moved quickly to seek guidance once the framework became active.

Interest from asset managers, but no filings yet

According to the SEC, several asset management firms have approached the regulator for consultations about potential launches. Those discussions suggest early industry interest, but they have not yet turned into official filings.

The regulator said it cannot confirm at this stage whether the first crypto ETFs will reach the market in 2026. Approval timing, it said, will depend on how prepared applicants are, the pace of regulatory review, and whether investor protection requirements are satisfied.

Thailand already has indirect Bitcoin exposure

Even before the new rules came into force, Thai investors could gain Bitcoin exposure through funds tied to overseas ETF products. That means the local market has already seen regulated offerings connected to Bitcoin, though not domestically listed spot crypto ETFs of the kind now permitted.

ONE Asset Management became the first Thai asset manager to win approval for a Bitcoin ETF-linked fund in 2024. Later, MFC Asset Management launched a fund that invests through BlackRock’s iShares Bitcoin Trust, known by its ticker IBIT.

What comes next

The immediate next step is the filing of a first formal application with the SEC. Until that happens, the regulator has said it cannot give a clear timeline for when Thailand’s first locally listed spot Bitcoin or Ether ETFs might be approved.

For now, the confirmed picture is that the legal framework is in place, consultations are underway, and the market is waiting to see which asset manager will move first from preliminary talks to a formal proposal.

Source: cointelegraph.com