Independent Candidate Proposes Bitcoin ETF for Singapore's Retirement Savings
Jeremy Tan, an independent candidate for Mountbatten SMC in Singapore's 2025 general election, has garnered significant attention for his proposals related to cryptocurrency. Notably, he suggested a Singapore Dollar-denominated Bitcoin ETF (BITS ETF) to serve as a 'liquidity sponge' for family offices and open a new avenue for retirement savings. Tan, who secured 36% of the vote, has been advocating for Bitcoin's inclusion in Singapore's official foreign reserves and its integration into the political arena to hedge against USD instability.
Tan's Bitcoin-centric campaign resonated with voters, indicating growing interest in cryptocurrency among Singaporeans. His proposal for a BITS ETF comes at a time when no party or individual has publicly presented a similar idea in Singapore's current election year. While the Monetary Authority of Singapore (MAS) has not yet approved spot Bitcoin ETFs for retail investors, international ones are accessible. Tan's proposal, if aligned with international developments like US SEC rules, could potentially pave the way for regulatory approvals or launches in Singapore.
Meanwhile, Takatoshi Shibayama, Head of APAC at Ledger, hosts Blockcast, an informational and entertainment podcast featuring guests discussing cryptocurrency and related topics. It is essential to note that Blockcast should not be considered financial advice.
Jeremy Tan's cryptocurrency proposals, particularly the BITS ETF, have sparked conversation and interest in Singapore's political landscape. As the country continues to explore the potential of cryptocurrency, Tan's initiatives may influence future regulatory discussions and decisions regarding Bitcoin and other digital assets.
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