Monetary Authority of Singapore: Bitcoin spot ETF cannot be listed in Singapore

A spokesman for the Monetary Authority of Singapore said that collective investment schemes (CIS) that retail investors in Singapore can participate in are regulated by the Securities and Futures Act and cover ETFs. They are limited in the types of assets they can invest in. Currently, Bitcoin and other digital payment tokens (cryptocurrencies) (DPT) are not eligible assets for retail CIS. Therefore, the Monetary Authority of Singapore does not allow such financial products to be listed in Singapore and available to retail investors because cryptocurrencies such as Bitcoin are not listed as eligible assets for ETFs. The spokesperson reiterated: “Cryptocurrency trading is highly volatile and speculative in nature and is not suitable for retail investors. Those who still choose to trade Bitcoin ETFs in overseas markets must exercise extreme caution. In addition, they should also carefully consider trading with overseas markets. Related additional risks." (Lianhe Zaobao)