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  • IBITNASDAQ$87.4B+1.42%
  • FBTCCBOE$21.8B+1.31%
  • ARKBCBOE$4.9B+1.28%
  • 3042HKEXHK$1.9B+0.87%
  • 9042HKEXHK$0.6B-0.21%
  • IBTCCBOE AUA$1.1B+1.06%
  • BTCCTSXC$3.4B+0.94%
  • HASH11B3R$1.2B+1.55%
  • SBTCSGXPENDINGNOT LISTED
Singapore Bitcoin ETFResearch & Policy Initiative
Policy Brief 2026

The Institutional Case for Singapore's Spot Bitcoin ETF.

Tracking global capital flows and advocating for retail digital asset access on the SGX. Don't get left behind as wealth migrates to US, HK, and Australian markets.

View the SGX RoadmapBuy Global ETFs Today
$142B
Global spot BTC ETF AUM

Across 7 jurisdictions

11
US spot ETFs trading

Since Jan 2024

A$1.1B
Australian inflows

Cboe AU / ASX

S$0
SGX retail access

No listed product

01Ticker Mindshare

Preparing for $SBTC and $SETH.

While the DBS Digital Exchange (DDEx) was a pioneering first step for institutional and accredited investors, Singapore's retail liquidity remains sidelined. Without a localized retail product on the SGX, Singapore risks languishing in trading volume as retail capital bleeds offshore.

We are laying the groundwork for the inevitable launch of $SBTC (Singapore Spot Bitcoin) and $SETH (Singapore Spot Ethereum).

Reserved Instrument RegistryDraft
$SBTCProposed

Singapore Spot Bitcoin

Underlying
BTC / SGD
Custody Model
Locally custodied, MAS-supervised
$SETHProposed

Singapore Spot Ethereum

Underlying
ETH / SGD
Custody Model
Locally custodied, MAS-supervised

Ticker symbols are illustrative placeholders used for advocacy and research purposes. No listing application has been filed with SGX or approved by the MAS.

02Global Competitive Landscape

Asian digital asset inflows are being captured elsewhere.

Australia and Hong Kong are aggressively capturing Asian digital asset inflows. Singapore must evolve its Collective Investment Schemes (CIS) regulations to maintain its crown as Asia's wealth management hub.

Spot Bitcoin ETF — Approved Jurisdictions
  • Primary market
  • Listed elsewhere
  • Singapore — none
SINGAPORENO RETAIL PRODUCT
Approved spot Bitcoin ETF markets by jurisdiction, venue, issuer and assets under management
JurisdictionListing VenuePrincipal IssuersLiveEst. AUM
United StatesNASDAQ / CBOE / NYSE ArcaBlackRock (IBIT), Fidelity (FBTC), ARK 21Shares (ARKB)Jan 2024$118.2B
Hong KongHKEXChinaAMC, Bosera / HashKey, HarvestApr 2024HK$2.5B
AustraliaBenchmarkCboe Australia / ASXMonochrome (IBTC) — Jeff Yew, VanEck, DigitalXJun 2024A$1.1B
CanadaTSXPurpose (BTCC), CI Galaxy, FidelityFeb 2021C$3.4B
BrazilB3Hashdex (HASH11), QR AssetJun 2021R$1.2B
EuropeSIX / Deutsche Börse / Euronext21Shares, CoinShares, WisdomTree2018 onward€9.6B
SingaporeSGXNone — DDEx restricted to accredited investors—S$0

AUM figures are indicative estimates compiled from public issuer disclosures and exchange filings for illustrative comparison. Not investment advice.

03Digital Gold vs. Physical Gold

The Evolution of Store of Value.

Bitcoin is mathematically scarce digital gold. Just as the SGX revolutionized gold investing with GLD, it is time to do the same for the digital age.

Structural comparison between SGX-listed gold ETFs and spot Bitcoin
Point of ComparisonSGX Gold ETFO87 · SPDR Gold SharesSpot BitcoinProposed · $SBTC
AuditabilityPeriodic third-party vault attestation; bar lists published quarterlyContinuous on-chain verification; reserves auditable in real time by any party
Storage & Custody Cost0.40% expense ratio — insured vaulting, transport and physical handling0.19%–0.25% typical — qualified custodian, no physical logistics
TransferabilityPhysical settlement is slow and costly; cross-border transport is regulatedFinal global settlement in minutes, 24/7/365, independent of banking hours
Supply ScheduleIndeterminate — annual mine supply grows ~1.5%–2.0% with price incentivesFixed at 21,000,000. Issuance is mathematically enforced and halves every 4 years
Volatility (30D)~13% annualised~44% annualised
YTD Performance+21.4%+48.7%
SGX Retail AccessAvailable — O87 (SPDR Gold Shares) listed since 2006Unavailable — no locally listed spot product

Performance and volatility figures are indicative, compiled from public market data for illustrative comparison only. Past performance is not indicative of future results. Digital assets carry material risk of capital loss. Nothing on this page constitutes financial advice or an offer to sell securities.

04The Actionable Roadmap

From market education to the opening bell.

  1. Phase 1In progress

    Market Education

    Aggregating global capital-flow data and guiding Singaporeans to MAS-regulated offshore brokers for compliant exposure today.

    • Weekly flows dashboard
    • Broker due-diligence guides
    • Retail investor briefings
  2. Phase 2Forming

    The Consortium

    Uniting Capital Markets Services (CMS) license holders and Single Family Offices (SFOs) behind a single, coordinated policy position.

    • CMS working group
    • SFO capital commitments
    • Issuer & custodian mandates
  3. Phase 3Drafting

    The Sandbox

    Drafting a formal proposal for a MAS regulatory sandbox pilot for $SBTC, with defined investor protection and custody standards.

    • Sandbox application
    • CIS amendment brief
    • Custody & audit framework
  4. Phase 4Target

    SGX Listing

    The launch of Singapore’s first fully backed, locally custodied spot Bitcoin ETF — accessible to every retail investor on the SGX.

    • Prospectus & approval
    • Market-maker onboarding
    • Opening bell
05Brokerage & Exchange Guide

How to Gain Exposure in Singapore Today.

Until $SBTC is a reality, Singaporeans can legally utilize these MAS-regulated and global platforms.

Route 01

US & Hong Kong Listed ETFs

Gain exposure through regulated brokerage accounts with access to IBIT, FBTC and HKEX-listed products. Held as securities in your own name.

Moomoo SG

MAS-licensed (Capital Markets Services)

0% commission on US ETFs

  • US, HK & SG market access
  • SGD funding via PayNow
  • Fractional share support
Open Account

Tiger Brokers

MAS-licensed (Capital Markets Services)

0% comms, US ETF access

  • US, HK & SG market access
  • Low FX conversion spreads
  • Integrated research tools
Open Account
Route 02

Direct Spot Crypto

Hold spot Bitcoin directly with a regulated exchange. Full custody optionality, including withdrawal to self-custody.

Coinhako

MAS Major Payment Institution licence

SGD pairs, MAS-licensed

  • Direct SGD on-ramp
  • Singapore-based support
  • Recurring buy schedules
Open Account

Coinbase

MAS Major Payment Institution licence

Direct custody, globally regulated

  • Institutional-grade custody
  • Publicly listed (NASDAQ: COIN)
  • Self-custody withdrawals
Open Account

Kraken

Globally regulated exchange

Deep liquidity, proof of reserves

  • Cryptographic proof of reserves
  • Advanced order types
  • Strong security record
Open Account

Affiliate disclosure: Links in this section may be affiliate links, and we may receive compensation if you open an account. This does not influence our editorial assessment. Licensing status is summarised for convenience and may change — always verify a platform's current standing on the MAS Financial Institutions Directory before transacting. Nothing here is financial advice.

06Partnerships & Family Office Portal

Build the Future of SGX With Us.

We are seeking strategic alignment with Single Family Offices (13O/13U frameworks) and traditional asset managers. Our leadership brings 15 years of enterprise tech product management and advanced data analytics to drive the technical and marketing architecture.

13O / 13U
Family office tax incentive frameworks
15 yrs
Enterprise tech product management
CMS
Licence holder coordination
Confidential Intake — Encrypted

Submissions are treated as confidential. We do not share your details with third parties. This form is not an offer to sell or a solicitation to buy any security.