Thailand's Securities and Exchange Commission opened public comment on Aug. 24 for a rule set that would allow domestic fund managers, the Stock Exchange of Thailand and regulated custodians to offer Bitcoin and Ethereum exchange‑traded funds. The proposal would require each fund to maintain an average net exposure of at least 80% of net asset value to its chosen asset during an accounting year and would restrict asset holdings to Thai‑regulated custodians. The proposal builds on the global success of crypto ETFs, which have attracted more than $60 billion in net inflows, dominated by Bitcoin products. Thailand would bring a similar model onshore while preserving some access to foreign ETFs through existing mutual and private fund rules and a separate consultation on foreign custodians. Licensed custodians such as Rakkar Digital and Orbix Custodian and fund managers including Soberin, Orbix Invest and Merkle are positioned to participate if the framework is finalized. Thailand has 24 licensed mutual‑fund management companies that could compete for ETF roles. The proposal does not ban foreign crypto products; mutual and private funds may already invest abroad, and the regulator is consulting on a regime for qualified foreign custodians. It also limits certain alternative products tied to foreign ETFs, such as depositary receipts and securities arrangements for non‑institutional customers. Investors must complete product‑risk education and acknowledge risks before trading, and intermediaries must assess diversification, risk tolerance and financial capacity. No launch date has been announced, and the final scope of the rules remains under review.