Thailand is opening its main stock exchange to Bitcoin (CRYPTO: $BTC) and Ethereum (CRYPTO: $ETH) exchange-traded funds (ETFs) starting on Oct. 16 of this year.
Thailand’s Securities and Exchange Commission announced that it will permit locally established crypto ETFs to trade on the Stock Exchange of Thailand (SET).
Bitcoin and Ethereum will be the only cryptocurrency ETFs available on Thailand’s stock exchange during the initial rollout.
More From Cryptoprowl:
Thai investors can now gain exposure to the two cryptocurrencies through regulated securities products without having to directly purchase and store the digital assets.
Each crypto ETF must operate as a passive investment fund designed to track the spot price of Bitcoin or Ethereum.
Until now, regulators and politicians in Thailand had been reluctant to allow Bitcoin and Ethereum ETFs for fear they are too risky and could hurt investors.
However, Thailand’s markets regulator says it is responding to investor demand in permitting the Bitcoin and Ethereum spot ETFs.
Still, securities companies will not be permitted to facilitate investments in overseas crypto ETFs, according to the Thai regulator.
Bitcoin is trading at $82,500 U.S. on Oct. 9.