Singapore Says No to Retail Crypto ETFs

The Financial Authority of Singapore declines retail spot Bitcoin ETF listings.

In an announcement, the MAS mentioned that beneath Singapore’s rules, cryptocurrencies like Bitcoin usually are not thought of eligible property for retail ETFs. The monetary authority cited issues over the excessive volatility and speculative nature of cryptocurrencies.

“Cryptocurrency buying and selling is very unstable and speculative in nature and isn’t appropriate for retail traders,” the MAS assertion learn.

Nonetheless, the regulator famous that retail traders can nonetheless spend money on overseas-listed spot Bitcoin ETFs by way of licensed capital market intermediaries in Singapore. These intermediaries are required to supply ample threat disclosures to purchasers and assess suitability earlier than permitting cryptocurrency investments.

The choice contrasts with the U.S., which final week authorised a number of spot Bitcoin ETFs from main issuers like BlackRock and Constancy. These new ETFs noticed large buying and selling volumes exceeding $10 billion over their first three days of buying and selling.

The MAS urged retail traders fascinated with abroad crypto ETFs to train warning, stating that cryptocurrencies stay a speculative asset class.

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