Fueled by recent industry developments such as the approval of spot Bitcoin exchange-traded funds (ETFs) in the US, 39% of Singaporeans now view Bitcoin more favourably. More than half (51%) are aware of the US Securities and Exchange Commission's approval of spot Bitcoin ETFs, and 33% are open to investing through an overseas offering given that the product is not available to retail investors in Singapore.
Against the backdrop of the upcoming Bitcoin halving event in April, 48% of Singapore crypto investors will continue to double down on Bitcoin over the next 12 months, according to the 2024 Independent Reserve Cryptocurrency Index (IRCI).
Those who hold more than 50% of their portfolio in crypto are the most likely to increase their Bitcoin holdings, the study found.
