Thailand Approves Bitcoin for Derivatives, Crypto ETFs Could Be Next!

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Thailand just opened the door for Bitcoin in its regulated derivatives market. And by “opened,” I mean they found a door and decided to leave it ajar. The Thai Cabinet approved changes to the country’s Derivatives Act that allow digital assets like Bitcoin to be used as underlying assets for futures and options contracts. Great, because nothing screams stability like a coin that can wake up on the wrong side of the bed and decide it’s either money or a joke.

The country’s crypto market is already valued at $3.19 billion, with an average daily trading volume of $95 million. That existing liquidity gives the derivatives push a solid base to build on. Sure, it’s liquidity, but can you trust that when the lights go out and your contract says “settle in Bitcoin”? It’s a guess, and a loud one.

Now, the real work begins.

What the SEC Will Do Next

Following the Cabinet’s approval, the Securities and Exchange Commission (SEC) will amend the Derivatives Act B.E. 2546 and begin drafting new licensing and oversight rules. The regulator is also working with the Thailand Futures Exchange (TFEX) to set contract specifications for crypto-linked derivatives. Because nothing says efficiency like two agencies coordinating via email chains that never end.

SEC Secretary-General Pornanong Budsaratragoon said the expansion “will strengthen the recognition of crypto as an asset class, promote market inclusiveness, enhance portfolio diversification, and improve risk management for investors.”

The SEC is also reviewing licensing frameworks for derivatives brokers, exchanges, and clearinghouses. Yes, more licensing. If you wanted fewer forms, you’re in the wrong country.

Bitcoin Futures and Crypto ETFs on the Radar

The SEC’s 2026 capital markets plan includes Bitcoin futures and crypto exchange-traded funds. Because what the world needed was a timetable with a future and a tote bag labeled “ETFs.”

Deputy Secretary-General Jomkwan Kongsakul said last month that crypto ETFs could launch early this year, subject to legal amendments. Early this year, or maybe by next year, or maybe never-but hey, the calendar says something, right?

Binance Thailand Reacts

Nirun Fuwattananukul, CEO of Binance Thailand, called the move a “watershed moment” for the country’s capital markets. A watershed moment, like a cleavage in a rock-dramatic, possibly noisy, and you’re not quite sure what’s on the other side.

“It sends a strong signal that Thailand is positioning itself as a forward-looking leader in Southeast Asia’s digital economy,” he said.

He added that digital assets are now seen as assets that can reshape capital markets. Shaping, reshaping, muffin-topping-call it what you will, it’s change.

Crypto Payments Still Banned

Worth noting: while Thailand is welcoming institutional crypto activity, the central bank still bans crypto payments. The government also launched an anti-money laundering campaign in January targeting crypto-linked “gray money.” Gray money? If you ask me, gray money should at least come with a color chart.

The next steps to watch are the SEC’s rule drafting timeline, TFEX product launches, and whether this puts pressure on Singapore and Hong Kong to keep pace. Because nothing motivates regional competition like a bunch of lawyers arguing over margins.

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2026-02-12 13:52