Thailand’s Securities and Exchange Commission is preparing to launch spot cryptocurrency exchange-traded funds supported by a newly designed market-making framework to ensure liquidity and orderly trading on the Stock Exchange of Thailand.
The regulator is finalising operational rules for the products, which local reports say could debut early this year as part of a wider push to modernise Thailand’s capital markets.
Central to the plan is the introduction of authorised market makers tasked with maintaining tight bid-ask spreads and reducing price volatility for crypto-linked ETFs.
The SEC intends to allow a broad range of participants to act as market makers, including digital asset exchanges, traditional financial institutions, and large corporations.
These entities will be responsible for continuously quoting buy and sell prices to support stable trading conditions on the SET.
Market makers are considered essential for preventing excessive price swings and slippage, particularly in newly listed digital asset products.
To ensure adequate liquidity, the SEC is considering a wide net for market makers.
Jomkwan Kongsakul said.
She added that companies holding cryptocurrencies on their balance sheets could also qualify, helping bridge volatile crypto markets with the regulated stock exchange.
The market-making initiative forms part of a broader regulatory overhaul aimed at aligning Thailand with global digital asset investment trends.
The SEC is also moving to recognise digital assets as an underlying asset class under the Derivatives Act, paving the way for crypto futures trading on the Thailand Futures Exchange.
Regulators are expanding the definition of digital tokens to include bond tokens and tokenised fund units.
Thailand’s first green token linked to environmental, social, and corporate governance investments is also expected to launch in the near term.
By using an ETF structure, the SEC aims to remove the so-called wallet barrier for retail and institutional investors.
Investors will be able to gain exposure to bitcoin (CRYPTO:BTC) and ether (CRYPTO:ETH) through existing brokerage accounts without directly managing private keys.
The regulator has stressed that this approach reduces cybersecurity risks associated with self-custody of digital assets.
Alongside opening the market, the SEC has tightened rules on market conduct and investor protection.
Financial influencers are now required to obtain licences if they provide specific investment advice or make return-based recommendations.
The SEC continues to urge caution, recommending that digital assets make up no more than 4% to 5% of a diversified portfolio, even for high-risk investors.
Coordination between the SEC, the Bank of Thailand, and the SET reflects a policy shift towards treating crypto as a regulated financial asset rather than a speculative niche.
As Thailand moves further into 2026, the planned ETF launch signals growing institutional acceptance of digital assets within the country’s formal financial system.
At the time of reporting, Bitcoin price was $89,191.53.