Thailand’s Securities and Exchange Commission (SEC) issued rules on Thursday, allowing local asset managers to create bitcoin and ether exchange-traded funds (EFTs), opening a new regulated route for investors to gain exposure to crypto through the country’s stock exchange.

The rules take effect Oct. 16. Crypto ETFs must trade on the Stock Exchange of Thailand and track a single cryptocurrency, with at least 80% of a fund’s net asset value exposed to that asset. Bitcoin and ether will be the only initial eligible cryptocurrencies, the regulator said.

Investors will have to confirm they understand the risks before buying the ETFs. Brokers cannot lend clients money to buy crypto, and the funds’ crypto holdings must be held with custodians regulated by Thailand’s SEC.

The change gives Thai investors a domestic ETF option rather than relying on foreign products or direct crypto trading. Until now, Thailand has allowed only institutional and wealthy investors to invest in foreign crypto ETFs, while the regulator said last year it wanted to broaden the market beyond bitcoin.

Thai assert managers may outsource crypto investment management to licensed digital-asset fund managers. Regulated digital-asset custodians and other qualified firms will also be able to register as fund supervisors for crypto ETFs.

The SEC also amended its rules to let mutual funds and private funds invest in Thai crypto ETFs, subject to existing investment limits. In the initial phase, it will not allow products that give non institutional clients indirect access to foreign crypto ETFs, such as depositary receipts.

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