Singapore Exchange (SGX) CEO Loh Boon Chye confirmed that SGX will not list Bitcoin and crypto ETFs, citing current market conditions. This decision contrasts with the global trend of crypto ETF adoption in markets like Hong Kong, the U.S., and Australia.
Despite this, Loh acknowledged the importance of demand, governance, and a supportive ecosystem for such products. The first spot cryptocurrency ETFs in Asia launched in Hong Kong this April, contributing to significant gains in Bitcoin and Ethereum.
Loh hinted at potential future listings, emphasizing that the ecosystem must evolve. SGX faces pressure to attract high-growth companies amid low liquidity and valuations. To address these issues, SGX focuses on its robust Asian derivatives business and global REIT listings.
SGX’s conservative approach aims to ensure long-term stability and readiness for future opportunities in the crypto space.
