Thailand to broaden crypto ETF rules to multiasset baskets next year

Thailand's securities regulator said it is drafting rules to expand cryptocurrency exchange traded funds beyond Bitcoin to include baskets of digital tokens, with the rollout expected early next year. The move would allow local mutual funds and institutional investors to issue multiasset crypto ETFs domestically, changing how Thais can gain regulated exposure to digital assets.

Pornanong Budsaratragoon, secretary general of the Securities and Exchange Commission, said regulators are working to broaden the criteria for eligible crypto assets. "Our possibility now is to broaden the criteria for the crypto, such as a basket of cryptocurrencies," she said. "We want to have a broader supply of those crypto assets in the ETFs." The initiative follows earlier approval of a Bitcoin ETF and is part of a wider effort to integrate tokenized products into mainstream investment choices.

At present, Thai investors seeking crypto exposure largely must buy tokens directly or place money with licensed asset managers that invest in overseas cryptocurrency ETFs. The new rules would enable domestic products that can track multiple assets, potentially offering easier access and diversification for...