727 FinancePANews October 9 news: The Securities and Exchange Commission (SEC) of Thailand has issued 11 related announcements establishing the setup and regulatory framework for crypto ETFs, which will take effect on October 16. The rules require crypto ETFs to be passive funds tracking the price of a single crypto asset, with an average net exposure to that asset of no less than 80% of net asset value each fiscal year; initially, the only eligible underlying assets are Bitcoin and Ethereum. Such ETFs will be listed and traded exclusively on the Stock Exchange of Thailand (SET), their assets must be custodied by SEC-regulated digital asset custodians, and brokers may not provide margin financing for them. The SEC has also opened up mutual funds and private funds to invest in local crypto ETFs, but initially does not allow the issuance of depositary receipts and other alternative products related to overseas crypto ETFs.
PANews October 9 news: The Securities and Exchange Commission (SEC) of Thailand has issued 11 related announcements establishing the setup and regulatory framework for crypto ETFs, which will take effect on October 16. The rules require crypto ETFs to be passive funds tracking the price of a single crypto asset, with an average net exposure to that asset of no less than 80% of net asset value each fiscal year; initially, the only eligible underlying assets are Bitcoin and Ethereum. Such ETFs will be listed and traded exclusively on the Stock Exchange of Thailand (SET), their assets must be custodied by SEC-regulated digital asset custodians, and brokers may not provide margin financing for them. The SEC has also opened up mutual funds and private funds to invest in local crypto ETFs, but initially does not allow the issuance of depositary receipts and other alternative products related to overseas crypto ETFs.