HomeBitcoinSingapore's MAS says they won't allow Bitcoin ETFs to be listed, but...

Singapore’s MAS says they won’t allow Bitcoin ETFs to be listed, but regular investors can still buy US ETFs.

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The Singapore government said that regular people can’t buy Bitcoin ETFs.

The reason for the decision is that Singapore’s rules don’t allow cryptocurrencies like Bitcoin to be included in ETFs. This was confirmed by a spokesperson for MAS in an interview with Lianhe Zaobao.

Although Singapore might not allow Bitcoin spot ETFs to be listed, regular people can still find a way to invest in these products.

Financial companies in Singapore that are allowed to operate by the MAS can help you trade Bitcoin investments from other countries.

These middlemen need to make sure they tell customers about any risks and check if the product is right for them, to protect regular investors.

Regular people in Singapore can invest in CIS.

The MAS spokesperson confirmed that regular people in Singapore can invest in groups of investments that are regulated by the government, like ETFs.

However, there are rules on what these investment funds can invest in, and right now, Bitcoin and other digital payment tokens, also known as cryptocurrencies, cannot be invested in by regular people in Singapore.

The spokesperson said that buying and selling cryptocurrency is very unpredictable and can change a lot. They also said that it’s not a good idea for regular people to invest in it.

“If you decide to trade Bitcoin ETFs in foreign markets, be very careful. ” They should also think carefully about doing business with other countries. “connected to more dangers. “

In Singapore, retail investors are people who are not considered qualified or institutional investors under the Securities and Futures Act.

Qualified investors are people who have a lot of money. They must have more than NT$1 million in financial assets, and make at least NT$300,000 a year, or have a personal net worth of more than NT$2 million, not including the value of their house if they have a loan on it.

To make sure investors are safe and to stop people from making risky bets on cryptocurrencies, Hong Kong’s financial authority is asking the public for their opinions on new rules for people and companies that work with cryptocurrency.

The findings of the consultation and new actions were announced in two parts, one in July and the other in November of last year.

US has given approval to 11 different Bitcoin ETFs.

Singapore’s MAS said no to listing Bitcoin spot ETFs, but the US SEC has a different opinion.

It agreed to allow 11 new Bitcoin investment funds to be traded, and they started trading the next day. Well-known companies like BlackRock, Fidelity, Invesco, and Ark Invest are now part of the ETF market with Swiss Crypto 21Shares.

The start of spot Bitcoin ETFs has seen a lot of trading, with Grayscale Investments’ Grayscale Bitcoin Trust, which changed into an ETF, having the most trading on its first day ever, more than $2. 3 billion

Furthermore, the iShares Bitcoin Trust from BlackRock had over $1 billion in trades, according to data from Bloomberg.

In the first three days, Bitcoin ETFs had a total trading volume of almost $10 billion.

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