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Some interest seen in new spot Bitcoin ETFs but local brokerages tread with caution

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Uma Devi

Uma Devi

Published Tue, Jan 16, 2024 · 05:00 AM
    • Regulators in the Republic have repeatedly warned about the risky nature of trading cryptocurrencies, with the Monetary Authority of Singapore calling it “highly risky and not suitable for the general public”.
    • Regulators in the Republic have repeatedly warned about the risky nature of trading cryptocurrencies, with the Monetary Authority of Singapore calling it “highly risky and not suitable for the general public”. PHOTO: REUTERS

    INVESTORS in Singapore have shown some interest in the new spot Bitcoin exchange traded funds (ETFs) that began trading in the US last week.

    However, banks and brokerage firms in the Republic appear to be approaching the new alternative investment class with relative caution given its risky and speculative nature. 

    A total of 11 spot Bitcoin ETFs began trading on stock exchanges in the US on Jan 11, and some of these funds have been made available on certain trading platforms in Singapore. 

    BitcoinETF

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