Thailand moves to institutionalize crypto ETFs… "Guidelines to be announced soon"

JOON HYOUNG LEE

Summary

Thailand said it is moving to institutionalize crypto ETFs and plans to announce official guidelines soon.
Thailand’s SEC said it will also work in parallel to boost crypto futures trading and is finalizing detailed investment and operational rules.
Thailand’s SEC said it is considering introducing market makers (MMs) to support liquidity, and that financial institutions and crypto exchanges could be included.

Thailand is moving to institutionalize cryptocurrency-based exchange-traded funds (ETFs).

According to local media outlets including the Bangkok Post on the 22nd (local time), Jomkwan Kongsakul, deputy secretary-general of Thailand’s Securities and Exchange Commission (SEC), said that day, "We plan to announce official guidelines soon to support the launch of crypto ETFs in Thailand." Kongsakul added, "We will also pursue efforts in parallel to invigorate crypto futures trading on the Thailand Futures Exchange (TFEX)."

The launch of crypto ETFs themselves appears to have already received preliminary approval. Kongsakul said, "We are currently finalizing detailed investment and operational rules," adding that "close cooperation will be needed between asset management firms and licensed crypto exchanges."

Thailand’s SEC is also reviewing a plan to introduce market makers (MMs) into the crypto ETF market to help provide liquidity. Kongsakul explained, "(Market makers) could include financial institutions, crypto exchanges, and organizations that hold cryptocurrencies on their balance sheets."

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