Approval of Spot ETFs in the US Has Boosted Bitcoin Favorability Among Singaporeans
Singaporeans are increasingly viewing Bitcoin in a favorable light, thanks to the recent approval of spot Bitcoin exchange-traded funds (ETFs) in the United States.
According to a new report from the digital currency exchange Independent Reserve , 39% of Singaporeans have expressed a more favorable view of Bitcoin following the approval of spot Bitcoin ETFs.
There is also a high awareness of the US SEC’s approval of spot Bitcoin ETFs among Singaporeans, with 51% of respondents indicating their knowledge of this development.
Furthermore, 33% of participants are open to investing through an overseas offering since retail investors in Singapore do not have access to such products.
As the Bitcoin halving event approaches in April, 48% of crypto investors in Singapore plan to increase their Bitcoin holdings over the next 12 months.
The report noted that this sentiment is particularly strong among those who already hold more than 50% of their portfolio in cryptocurrencies, with 68% intending to further increase their Bitcoin investments.
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