Sharp drop in crypto ownership in Singapore in 2025 as investors sell off: Poll

SINGAPORE – Crypto ownership in Singapore fell in 2025 as investors have been selling up and cashing in to take advantage of record prices in recent months, though not all made a profit, noted a new poll on May 21.

The lower crypto ownership was also attributed to older investors divesting some or all of their crypto holdings to reduce risk amid macro uncertainties.

The survey of 1,500 Singapore residents aged 18 and above found that only 29 per cent owned any crypto, a stark decline from the 40 per cent a year earlier.

Bitcoin hit a record on Jan 20, crossing US$109,000 (S$140,600), the day US President Donald Trump, who signalled plans to boost the crypto sector, was inaugurated for a second time.

The poll found that 49 per cent of crypto investors have sold part or all of their crypto holdings in the last 12 months, with 67 per cent of this group saying they made a profit on the deal.

Bitcoin and Ethereum continue to be the most popular assets, with 68 per cent of crypto investors owning Bitcoin and 48 per cent holding Ethereum, noted the survey carried out in February by crypto exchange Independent Reserve Singapore.

Mr Lasanka Perera, the exchange’s Singapore chief executive, said sentiment around Bitcoin has seen a shift towards long-term value and away from chasing hype due to trends or buzz, which had been a theme in past cycles.

The poll also found that 59 per cent of those who profited from crypto are likely to invest in it again over the next 12 months. Only 45 per cent of investors who broke even said they would be likely to chance their arm again, while just 25 per cent of those who lost money would be likely to try again.

Portfolio diversification remains the primary motivation for crypto investment here, noted 48 per cent of investors, although this is down from 52 per cent in the 2024 survey.

It also found that 42 per cent of crypto investors here see the digital currency as an investment tool while 38 per cent aim to trade for gains.

“We’re seeing the market maturing, investors being more focused and selective in their investment decision-making process,” Mr Perera said.

For investors who indicated that they buy crypto when the market dips or with spare cash, 41 per cent put in $1 to $100; 24 per cent invest $101 to $500; and 14 per cent, $501 to $1,000.

Those who invest more than $1,000 make up 21 per cent.

For those who hold crypto in 2025, 27 per cent are aged 26 to 35, up from 25 per cent in 2024, while 24 per cent are aged 36 to 45, up from 23 per cent in 2024.

Only 18 per cent of crypto holders are aged 18 to 25, up from 15 per cent in 2024, while 10 per cent are over 55, well down on the 24 per cent in 2024.

Nearly half, or 46 per cent, of those aged over 55 sold part or all of their crypto holdings in the past 12 months to reduce their risks amid macro uncertainties, said Independent Reserve. 

The survey noted that Singaporeans are now taking a more defensive investment approach, given the uncertain climate, with 49 per cent of respondents keeping cash in savings or fixed deposits, up from 42 per cent in 2024.

Meanwhile, stablecoins, a type of cryptocurrency whose value is pegged to another asset such as fiat currency or gold, are gaining ground.

About 83 per cent of stablecoin holders in the survey own those pegged to the US dollar while 20 per cent have stablecoins pegged to the Singapore dollar.

Around 50 per cent of stablecoin holders used them for purposes such as subscriptions, paying for goods and services or overseas transfers, the survey noted.