The recent approval of a Bitcoin spot ETF by the United States undoubtedly became the hottest news topic in recent times, and the trend of this ETF has already started discussions globally. However, the regulatory authorities in Singapore have recently taken a firm stance by stating that they do not allow such financial products to be listed domestically.
According to a report by the Lianhe Zaobao, a spokesperson from the Monetary Authority of Singapore (MAS) stated during a media interview that currently, Bitcoin and other cryptocurrencies do not qualify as eligible assets for retail Collective Investment Schemes (CIS). Therefore, MAS does not allow such financial products to be listed in Singapore or targeted towards retail investors since cryptocurrencies like Bitcoin are not classified as eligible assets for ETFs.
The spokesperson from MAS emphasized that the prohibition of listing such financial products in Singapore is to protect retail investors from potential risks associated with cryptocurrencies.
