Singapore's Monetary Authority of Singapore (MAS) explicitly prohibits the listing of Bitcoin spot ETFs in the country.

According to Lianhe Zaobao, as the listing of spot Bitcoin ETF in the United States sparks market discussion, the Monetary Authority of Singapore (MAS) has made an important statement regarding this new financial product, explicitly stating that spot Bitcoin ETFs cannot be listed in Singapore and are not suitable for retail investors in Singapore. In line with the Bitcoin ETF craze in the United States, the Financial Supervisory Commission of Taiwan has also stated that it is currently not possible to issue such ETFs domestically.

Restrictions on Listing of Spot Bitcoin ETF

The Monetary Authority of Singapore (MAS) has emphasized that financial products such as Bitcoin and other cryptocurrencies are not classified as eligible assets. Therefore, the listing of such financial products and plans targeting retail investors are not allowed in Singapore.

Alternative Investment Opportunities for Retail Investors

Although the listing of spot Bitcoin ETFs is not permitted in Singapore, capital market intermediaries authorized by MAS can still offer investment opportunities in overseas markets to investors. This means that retail investors can still trade spot Bitcoin ETFs listed overseas through local brokerages, as long as these transactions comply with strict risk disclosure and customer suitability assessment criteria.

Regulations and Limitations on Collective Investment Schemes

A spokesperson from MAS further explained that collective investment schemes available to retail investors in Singapore are subject to strict regulation under the Securities and Futures Act, which includes ETFs. However, Bitcoin and other digital payment tokens are currently not within the eligible asset scope of retail collective investment schemes.

Reminder of High Risks in Cryptocurrency Investment

The MAS spokesperson reiterated the nature of cryptocurrency trading, highlighting its high volatility and speculative nature. They emphasized that such trading is not suitable for retail investors and advised caution for those choosing to trade Bitcoin ETFs in overseas markets. Additionally, they should carefully consider the additional risks associated with trading in overseas markets.

Definition and Qualifications of Retail Investors

According to Singapore's Securities and Futures Act, retail investors refer to individuals who are not qualified investors or institutional investors. Qualified investors include those with financial assets exceeding SGD 1 million, income of at least SGD 300,000 in the preceding 12 months, or net personal assets exceeding SGD 2 million, among other criteria.

This policy provides clear direction for Singaporean investors and demonstrates the cautious approach taken by authorities when dealing with emerging financial products.