Singaporean investors are increasingly aware of cryptocurrency, with 94% of respondents familiar with at least one digital asset, according to the latest annual Independent Reserve Cryptocurrency Index.
Despite record-high awareness, the actual ownership rate of cryptocurrencies has declined to 29% in 2025 from 40% a year earlier.
The findings, based on a poll conducted in February with 1,500 participants, reflect a nuanced picture of the city-state’s digital asset landscape.
While fewer Singaporeans are currently holding cryptocurrencies, long-term appetite appears intact. Over half of existing crypto investors plan to increase their holdings in the next 12 months, and 17% of non-investors are considering entering the market.
Bitcoin remains the most trusted and widely held asset, owned by 68% of crypto investors. Among them, 86% see Bitcoin as a form of currency, store of value, or investment vehicle. More than three-quarters expect its price to stabilize above $100,000 by 2030.
Millennials and Gen X investors, aged between 25 and 54, make up 71% of Singapore’s crypto investor base, up from 61% in 2024. They also dominate weekly trading activity, accounting for 76% of frequent participants. Male investors continue to outpace female counterparts, with 35% of men and 24% of women reporting active crypto investments.
While 61% of investors prefer direct holdings over exchange-traded funds (ETFs), trading behavior is increasingly opportunistic—67% reported selling off some or all of their holdings over the past year to realize gains during market rallies.
Stablecoins are gaining traction, with 46% of investors having used them, particularly for transactions and decentralized finance (DeFi) activities. USD-backed stablecoins are the most popular, held by 83% of stablecoin users.
Meanwhile, speculative tokens continue to attract attention. Nearly 28% of investors own at least one memecoin, such as Dogecoin. These assets, often driven by internet culture rather than fundamentals, have drawn regulatory warnings. Government officials have highlighted risks of pump-and-dump schemes associated with such tokens.
Despite regulatory efforts, the report underscores gaps in public understanding. Over half of respondents (58%) said they want clearer government guidance, while 47% called for greater accountability among industry participants.
Singapore’s crypto landscape continues to evolve as adoption patterns shift and regulatory expectations rise. While investor caution has dampened short-term participation, a strong undercurrent of interest signals resilience in the market’s long-term outlook.