Singapore Stock Exchange Rules Out Crypto Listings

Loh Boon Chye, CEO of the Singapore Exchange (SGX), stated that SGX has no plans to list cryptocurrencies, despite the growing adoption of crypto ETFs globally.

He cited the need for a supportive ecosystem and proper governance as reasons for the delay.

At the Reuters NEXT conference, Loh emphasized that the current market isn’t ready for crypto listings. While the U.S. SEC’s approval of spot Bitcoin ETFs has sparked global interest, Loh believes Singapore needs more time to prepare.

Hong Kong recently launched its first spot cryptocurrency ETFs, helping Bitcoin reach $73,800 this year. Bitcoin has gained nearly 35% year-to-date, while Ethereum has increased over 30% amid expectations for spot Ether ETFs.

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Though immediate plans are off the table, Loh didn’t rule out future crypto listings, suggesting SGX could adapt as the ecosystem matures. He highlighted SGX’s reputation for innovation.

SGX is focusing on developing its Asian derivatives business and maintaining its role in global real estate investment trusts to counter low liquidity and valuations. Loh mentioned a healthy pipeline of IPOs and secondary listings aimed at increasing exposure and revitalizing the exchange.

Alexander Stefanov