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Licensed (Capital Markets Services)
0% commission on US ETFs
- US, HK & SG market access
- SGD funding via PayNow
- Fractional share support
Insights from 2026-2027Independent Research
The Institutional Case for Singapore's Spot Bitcoin ETF.
Tracking global capital flows and advocating for retail digital asset access in Singapore. Don't get left behind as wealth migrates to US, HK, and Australian markets.
- $142B
- Global spot BTC ETF AUM
- 11
- US spot ETFs trading
- A$1.1B
- Australian inflows
- S$0
- Singapore retail access
Across 7 jurisdictions
Since Jan 2024
Cboe AU / ASX
No listed product
01Ticker Mindshare
Preparing for $SBTC and $SETH.
Singapore's retail liquidity remains sidelined. Without a locally listed retail product, 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
$SETHProposed
Singapore Spot Ethereum
- Underlying
- ETH / SGD
Ticker symbols are illustrative placeholders used for advocacy and research purposes. No listing application has been filed with any exchange or approved by any regulator.
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.
- Primary market
- Listed elsewhere
- Singapore — none
United States
Est. AUM $118.2B
- Venue
- NASDAQ / CBOE / NYSE Arca
- Issuers
- BlackRock (IBIT), Fidelity (FBTC), ARK 21Shares (ARKB)
- Live
- Jan 2024
Hong Kong
Est. AUM HK$2.5B
- Venue
- HKEX
- Issuers
- ChinaAMC, Bosera / HashKey, Harvest
- Live
- Apr 2024
AustraliaBenchmark
Est. AUM A$1.1B
- Venue
- Cboe Australia / ASX
- Issuers
- Monochrome (IBTC) — Jeff Yew, VanEck, DigitalX
- Live
- Jun 2024
Canada
Est. AUM C$3.4B
- Venue
- TSX
- Issuers
- Purpose (BTCC), CI Galaxy, Fidelity
- Live
- Feb 2021
Brazil
Est. AUM R$1.2B
- Venue
- B3
- Issuers
- Hashdex (HASH11), QR Asset
- Live
- Jun 2021
Europe
Est. AUM €9.6B
- Venue
- SIX / Deutsche Börse / Euronext
- Issuers
- 21Shares, CoinShares, WisdomTree
- Live
- 2018 onward
Singapore
Est. AUM S$0
- Venue
- —
- Issuers
- None — DDEx restricted to accredited investors
- Live
- —
AUM figures are indicative estimates compiled from public issuer disclosures and exchange filings for illustrative comparison. Not investment advice.
2026 Regulatory & Market BriefUpdated Assessment
Singapore's Current Bitcoin ETF Landscape.
Singaporeans are not shut out of this asset class — but every available route runs through a foreign exchange, and the domicile of the fund you choose carries consequences that are easy to overlook.
Access
No Local Listing Yet, But Global Access Is Possible
Retail investors can buy overseas-listed ETFs on NASDAQ, NYSE and the LSE through local brokers such as Moomoo SG, Tiger Brokers and IBKR. Expect a mandatory one-time Complex Product risk assessment before your first trade is approved.
Funding
Cash Brokerage Required — No CPF or SRS
Crypto ETFs do not appear on the CPFIS list of approved investments, and they cannot be bought through an SRS account. Exposure has to be funded from a cash brokerage account, so none of the usual tax-deferred wrappers apply.
Latest Development
Retail excludedThe Institutional Rails Are Already Live.
Singapore's own exchange now operates regulated crypto derivatives and publishes a domestic Bitcoin benchmark. The infrastructure argument has effectively been settled — what remains missing is a retail wrapper on top of it.
Crypto Perpetual Futures
Live 24 Nov 2025Cash-settled Bitcoin and Ether perpetual futures now trade on the local derivatives market — exchange-cleared, with a funding-rate mechanism that holds pricing to the underlying spot indices.
Institutional, accredited and expert investors only
Exchange media release · 17 Nov 2025iEdge Bitcoin Index
IEBTCA locally administered USD Bitcoin benchmark, published as index infrastructure. This is precisely the reference layer a domestic spot ETF would price and settle against.
Benchmark data — not directly investable
Index product page
Comparison
Global ETFs accessible from Singapore
Fee and domicile data compiled from issuer factsheets. Estate tax exposure applies to non-resident holders of US-domiciled securities.
| ETF Name | Ticker | Exchange | Domicile | TER | US Estate Tax Risk |
|---|---|---|---|---|---|
| iShares Bitcoin TrustBlackRock | IBIT | NASDAQ (USA) | USA | 0.25% | Yes — above USD 60k |
| Fidelity Wise OriginFidelity | FBTC | NYSE Arca (USA) | USA | 0.25% | Yes — above USD 60k |
| CoinShares Physical BTCCoinShares | BITC | LSE (UK) / SIX | Jersey | 0.15% | None — non-US domicile |
| 21Shares Bitcoin Core21Shares | CBTC | SIX (Swiss) | Switzerland | 0.10% | None — non-US domicile |
| ProShares Bitcoin StrategyFuturesProShares | BITO | NYSE Arca (USA) | USA | 0.95% | Yes — plus futures roll risk |
BITO holds Bitcoin futures rather than spot Bitcoin, which introduces roll costs not present in the physically backed products above. BITC and CBTC are structured as exchange-traded products rather than ETFs. Expense ratios are current as at publication and set by the issuer. This is general information, not financial or tax advice — consult a qualified adviser on your own estate tax position.
03Digital Gold vs. Physical Gold
The Evolution of Store of Value.
Bitcoin is mathematically scarce digital gold. Just as Singapore revolutionized gold investing with GLD, it is time to do the same for the digital age.
Auditability
- Gold ETF · O87 / GSD
- Periodic third-party vault attestation; bar lists published quarterly
- Spot Bitcoin · $SBTC
- Continuous on-chain verification; reserves auditable in real time by any party
Storage & Custody Cost
- Gold ETF · O87 / GSD
- 0.40% expense ratio — insured vaulting, transport and physical handling
- Spot Bitcoin · $SBTC
- 0.19%–0.25% typical — qualified custodian, no physical logistics
Transferability
- Gold ETF · O87 / GSD
- Physical settlement is slow and costly; cross-border transport is regulated
- Spot Bitcoin · $SBTC
- Final global settlement in minutes, 24/7/365, independent of banking hours
Supply Schedule
- Gold ETF · O87 / GSD
- Indeterminate — annual mine supply grows ~1.5%–2.0% with price incentives
- Spot Bitcoin · $SBTC
- Fixed at 21,000,000. Issuance is mathematically enforced and halves every 4 years
Volatility (30D)
- Gold ETF · O87 / GSD
- ~13% annualised
- Spot Bitcoin · $SBTC
- ~44% annualised
YTD Performance
- Gold ETF · O87 / GSD
- +21.4%
- Spot Bitcoin · $SBTC
- +48.7%
Singapore Retail Access
- Gold ETF · O87 / GSD
- Available since 2006 — tradable in USD (O87) or SGD (GSD.SI)
- Spot Bitcoin · $SBTC
- Unavailable — 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.
- Phase 1In progress
Market Education
Aggregating global capital-flow data and guiding Singaporeans to regulated offshore brokers for compliant exposure today.
- Weekly flows dashboard
- Broker due-diligence guides
- Retail investor briefings
- 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
- Phase 3Drafting
The Sandbox
Drafting a formal proposal for a regulatory sandbox pilot for $SBTC, with defined investor protection and custody standards.
- Sandbox application
- CIS amendment brief
- Custody & audit framework
- Phase 4Target
Singapore Listing
The launch of Singapore’s first fully backed, locally custodied spot Bitcoin ETF — accessible to every retail investor in Singapore.
- Prospectus & approval
- Market-maker onboarding
- Opening bell
05Brokerage & Exchange Guide
How to Start Investing in Bitcoin Today.
Use these links below to access Bitcoin ETFs overseas.
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.
Tiger Brokers
Licensed (Capital Markets Services)
0% comms, US ETF access
- US, HK & SG market access
- Low FX conversion spreads
- Integrated research tools
Route 02
Direct Spot Crypto
Buy and hold spot Bitcoin directly. Custody terms differ by platform — exchanges support withdrawal to self-custody, while yield accounts require you to deposit your coins with the provider.
Coinbase
Major Payment Institution licence
Direct custody, globally regulated
- Institutional-grade custody
- Publicly listed (NASDAQ: COIN)
- Self-custody withdrawals
Independent Reserve
Major Payment Institution licence
SGD pairs, locally licensed
- Direct SGD on-ramp
- Founded in Australia, licensed locally
- Self-custody withdrawals
Nexo
Global platform — verify local eligibility
Interest-bearing Bitcoin accounts
- Yield on deposited BTC
- Crypto-backed credit lines
- Assets held by the provider
YouHodler
Global platform — verify local eligibility
Yield and crypto-backed loans
- Yield on deposited BTC
- Loan-to-value borrowing
- Assets held by the provider
06Partnerships & Family Office Portal
Build the Future of Singapore 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.
Contact the Partnerships Desk
Enquiries are treated as confidential.
Mandate & Credentials
- 13O / 13U
- Family office tax incentive frameworks
- 15 yrs
- Enterprise tech product management
- CMS
- Licence holder coordination
07Frequently Asked Questions
Straight answers on Bitcoin ETF access.
The questions we hear most often from Singapore-based investors, answered plainly.
Is there a Bitcoin ETF listed in Singapore today?
No. There is currently no locally listed spot Bitcoin ETF available to retail investors. The domestic exchange does operate institutional-grade crypto perpetual futures and publishes the iEdge Bitcoin Index, but both are restricted to institutional, accredited and expert investors.
Can I buy IBIT or other overseas Bitcoin ETFs from Singapore?
Yes. Retail investors can access ETFs listed on NASDAQ, NYSE Arca, the LSE or SIX through local brokers such as Moomoo SG, Tiger Brokers and Interactive Brokers. Most brokers require a one-time Complex Product risk assessment before enabling these instruments.
Can I use CPF or SRS funds to buy a Bitcoin ETF?
No. Crypto ETFs are not on the CPFIS list of approved investments and are not eligible under SRS. Exposure must be funded from a cash brokerage account.
What is the US estate tax risk on US-listed ETFs?
Non-US persons holding US-domiciled securities above USD 60,000 in aggregate may be exposed to US estate tax on death. Products domiciled in Jersey or Switzerland, such as BITC and CBTC, sit outside this regime. This is not tax advice — confirm your position with a qualified adviser.
What is the difference between a spot and a futures Bitcoin ETF?
A spot ETF holds Bitcoin directly, so its value tracks the underlying price closely. A futures ETF such as BITO holds futures contracts that must be rolled each month, which introduces roll costs and tracking drift, alongside a materially higher expense ratio.
What is $SBTC?
$SBTC is an illustrative placeholder ticker for a proposed Singapore-listed spot Bitcoin ETF. It is not a listed or approved instrument, and no listing application has been filed with any exchange or regulator.
Is any of this financial advice?
No. SingaporeBitcoinETF.com is an independent research and advocacy initiative. Nothing on this site is financial, investment, legal or tax advice, or a solicitation to buy or sell any security or digital asset. Digital assets are highly volatile and carry a risk of total capital loss.
How can I support the initiative?
Join the Telegram channel to follow the research, share the site with other investors, and — if you represent an issuer, exchange or asset manager — contact the partnerships desk to explore collaboration.