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The Monetary Authority of Singapore has warned retail investors against buying spot Bitcoin ETFs following U.S. approval.
The Monetary Authority of <a href="https://crypto.news/tag/singapore/" target="_blank" rel="noopener noreferrer nofollow">Singapore</a> (MAS) has cautioned retail investors in the country against purchasing spot Bitcoin exchange-traded funds (<a href="https://crypto.news/tag/etf/" target="_blank" rel="noopener noreferrer nofollow">ETFs</a>) following the recent approval of such funds in the U.S.
MAS, in response to <a href="https://www.channelnewsasia.com/business/bitcoin-etfs-not-approved-retail-investors-singapore-us-sec-approval-mas-4053371" target="_blank" rel="noopener noreferrer nofollow">inquiries</a> from CNA, issued a cautionary statement for individuals considering engaging in the trading of these products in international markets, emphasizing that spot <a href="https://crypto.news/tag/bitcoin-etf/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin ETFs</a> have not been approved as eligible assets for collective investment schemes (CIS).
<blockquote class="wp-block-quote">
 “Given this, spot Bitcoin ETFs are not approved by MAS for offer to retail investors.”
 The Monetary Authority of Singapore
</blockquote>
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The regulatory stance of Singapore on crypto might change in light of recent approvals by the U.S. Securities and Exchange Commission (<a href="https://crypto.news/tag/sec/" target="_blank" rel="noopener noreferrer nofollow">SEC</a>) for these investment funds.
Following the SEC’s move, South Korea’s regulator <a href="https://crypto.news/koreas-fsc-bars-local-brokers-from-offering-spot-bitcoin-etfs-overseas/" target="_blank" rel="noopener noreferrer nofollow">barred</a> domestic brokers from offering spot Bitcoin ETFs overseas, citing potential violations of the existing government stance on virtual assets. Despite the ban, South Korea’s Financial Services Commission acknowledged the possibility of reviewing its stance on crypto regulation, without providing specific details.
As crypto.news <a href="https://crypto.news/sec-approves-spot-bitcoin-etf-on-accelerated-basis/" target="_blank" rel="noopener noreferrer nofollow">reported</a> earlier, the SEC granted approval to all applicants for spot Bitcoin ETFs. Shortly after the SEC approved multiple ETFs, SEC Chair Gary Gensler said in a&nbsp;<a href="https://crypto.news/arks-cathie-wood-condemns-sec-chair-says-gensler-denigrated-crypto/" target="_blank" rel="noopener noreferrer nofollow">statement</a>&nbsp;that despite the green light, the agency “did not approve or endorse Bitcoin,” adding that investors “should remain cautious about the myriad risks associated with Bitcoin and products whose value is tied to crypto.”
Read more: <a href="https://crypto.news/singapores-prime-minister-issues-warning-following-deepfake-crypto-video-with-him/" rel="noopener noreferrer nofollow"> Hong Kong, Singapore attract increasing crypto VC funding </a>

Singapore’s MAS cautions investors against buying spot Bitcoin ETFs

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