Money

How and Where to buy Bitcoin ETFs in Singapore

0
Please log in or register to do it.


The SEC approved the first batch of spot Bitcoin ETFs on 10 Jan 2024, marking a historical milestone for the cryptocurrency markets.

We’ve compared all 11 Bitcoin ETFs and shared the best Bitcoin ETFs you can buy as a Singaporean investor previously.

If you’re thinking of getting exposure to cryptocurrency through Bitcoin ETFs, let’s explore how:

How to invest in Bitcoin ETFs?

The spot Bitcoin ETFs are listed on selected exchanges in the US.

Singapore investors can access them just like any other exchange traded funds (ETFs), as long as your broker offers access to US stocks and ETFs.

If you’re new to ETFs, read our guide on How to buy ETFs in Singapore.

At this point, you may also be wondering:

Best broker in Singapore to buy Bitcoin ETFs

Brokerage Minimum Commission Trading Fees^ Custodian Fees US Exchanges Available
moomoo $0 USD 0.99 nil NYSE, NASDAQ, BATS, and more
Tiger Brokers USD 0.99 USD 0.99/order, or up to 0.5% of trade value per order nil NYSE, NASDAQ, BATS, and more
FSMOne $0 0.08% or min USD 3.80 nil NYSE, NASDAQ, BATS, and more
Interactive Brokers* USD 1 $0 nil NYSE, NASDAQ, BATS, and more
Standard Chartered USD 10 0.25% $0 NYSE, NASDAQ, BATS, and more
Lim & Tan USD 20 0.3% nil Only has access to NYSE, NASDAQ and AMEX exchanges
Phillip Securities USD 20

USD 3.88 (for Cash Plus Account)

0.3%

USD 3.88 (for Cash Plus Account)

Waived Only has access to NYSE, NASDAQ and AMEX exchanges
Maybank Kim Eng USD 20

(USD 10 for Prefunded Account)

0.3%

(0.12% for Prefunded Account)

nil Only has access to NYSE, NASDAQ and AMEX exchanges
UOB Kay Hian USD 20

(USD 13 for Cash Upfront Account)

0.3%

(0.12% for Cash Upfront Account)

nil Only has access to NYSE, NASDAQ and AMEX exchanges
OCBC Securities USD 20 0.2% nil Only has access to NYSE, NASDAQ and AMEX exchanges
Citibank USD 25 0.3% 0.0165% of monthly average, charged every six months Only has access to NYSE, NASDAQ and AMEX exchanges
^Does not include SEC charges, Exchange Trading Activity Fees, Taxes and other misc fees charged by exchanges or tax authorities
*Access on InteractiveBrokers is limited to accounts with permissions to Complex/Leverage ETFs.

I’ve shared the list of brokers in Singapore that you can use to buy Bitcoin ETFs. Here’re a few things to note:

Discount Brokers still cheapest and offer the widest range

moomoo and Tiger broker are still the cheapest in terms of trading fees.

Not all brokers have access to Cboe or BATS

If you refer to the list of Bitcoin ETFs, you’ll notice that >50% of the Bitcoin ETFs are listed on the Cboe exchange (formerly known as BATS).

However, major brokerages may not have access to the Cboe. This could reduce your options if you’re using those brokerages. Check with your broker for your options!

Can I buy bitcoin ETFs on moomoo?

Yes, you can.

You should be able to access Bitcoin ETFs via your moomoo account now:

Can I buy bitcoin ETFs on Tiger Brokers?

Yes, you should also be able to access the Bitcoin ETFs through your Tiger Brokers app:

Can I buy bitcoin ETFs on FSMOne?

If your account has access to the US markets, and you have a valid WBEN form, you should be able to trade the Bitcoin ETFs via FSMOne:

You can also get help from their support team if you are not able to access the Bitcoin ETFs.

Can I buy bitcoin ETFs on InteractiveBrokers?

Bitcoin ETFs are restricted to accounts with permissions to trade Complex or Leverage Exchange Traded Products.

You can request for access via your account settings:

However, eligibility to trade these products will be determined by Interactive Brokers. The eligibility requirements are not disclosed publicly, but it depends on your financial profile.

You can contact IB’s helpdesk or use their chatbot for more information.

Remain Cautious!

Do note that while you have access to Bitcoin ETFs in Singapore, cryptocurrency remains a risky investment vehicle.

Proceed with caution!

If you’re new to cryptocurrency, spend 2 hours with Aik Keong, our crypto mentor and learn the basics before you dive in. (This could save you from painful, expensive lessons)



Source link

TCS to diversify to other markets amid weakness in North Amercian region - Software
User of LG washing machine spotted that it spent 11Gb of traffic (mostly upload)