Singapore has solidified its standing as a global leader in the digital asset landscape, with a remarkable 94% of its population now familiar with at least one form of cryptocurrency. This milestone, highlighted in Independent Reserve’s fifth annual Singapore Crypto Market Survey, marks an all-time high in awareness and reflects the growing integration of digital finance into mainstream discourse. The survey, conducted in February 2025 and involving 1,500 respondents, signals widespread understanding of crypto despite shifts in investment behaviour.
Ownership Declines Amid Strategic Realignment
Despite record awareness, actual ownership of cryptocurrencies in Singapore has taken a notable dip. In 2025, just 29% of respondents reported holding digital assets, down from 40% the previous year. This 11% drop suggests a maturing market where investors are becoming more strategic and possibly cautious amid global volatility. The decline does not necessarily indicate waning interest. On the contrary, the survey found that 53% of current holders plan to increase their positions over the next year, while 17% of non-holders are considering entry into the market.
Bitcoin is the most recognized crypto in Singapore, with 91% awareness, followed by Ethereum at 54%, Dogecoin at 41%, Shiba Inu at 23%, and Solana at 22%. Source: Independent Reserve
This shift could be attributed to changing market dynamics, regulatory developments, and evolving investor preferences. Arbitrage trading, for example, has gained traction—with 67% of respondents saying they sold part or all of their holdings in the past year to capitalise on market price swings.
Demographics: Who’s Investing in Crypto?
The investor base in Singapore continues to be dominated by millennials and Gen X individuals aged 25 to 54. These groups make up 71% of all crypto holders and represent 76% of those who trade at least weekly. Men remain more active in the crypto space than women, with 35% of men investing compared to 24% of women.
Direct ownership remains the favoured method for gaining exposure to crypto, with 61% of investors choosing to hold digital assets directly rather than through exchange-traded funds (ETFs). Stablecoins are also widely held, with 46% of investors using them—mainly for trading and decentralised finance (DeFi) activities. Of these stablecoin holders, 83% use coins pegged to the US dollar.
Memecoins, though often seen as speculative, continue to attract attention. Twenty-eight per cent of respondents reported holding at least one memecoin, with Dogecoin remaining the most popular choice in this segment.
Bitcoin Holds Strong as Market Anchor
Bitcoin remains at the core of Singapore’s crypto ecosystem. It is held by 68% of investors and regarded by 86% as either a legitimate currency, a store of value, or an investment vehicle. Confidence in Bitcoin’s long-term value is robust, with 77% of those surveyed expecting it to surpass the $100,000 mark by 2030.
This sentiment highlights Bitcoin’s continued role as a stabilising force and entry point into the broader crypto market, particularly for those new to the asset class.
Singapore: A Global Crypto Powerhouse
Beyond individual investment trends, Singapore’s broader crypto landscape is flourishing. According to a 2024 report by ApeX Protocol, Singapore leads the world with 1,600 blockchain patents, 2,433 crypto-related jobs, and 81 active cryptocurrency exchanges. These numbers significantly outpace those of regional rival Hong Kong, which holds 890 patents, 1,163 jobs, and 52 exchanges.
Regulatory support has played a crucial role in cementing Singapore’s global status. The Monetary Authority of Singapore (MAS) issued 13 major payment institution licenses to crypto exchanges in 2024—more than double the number from 2023—underscoring the government’s commitment to fostering a robust yet secure digital asset environment.
While crypto ownership in Singapore has seen a temporary retreat, the overall sentiment remains bullish. High awareness, rising institutional support, and a strong belief in the future of leading cryptocurrencies like Bitcoin signal a resilient and maturing market. With a solid regulatory foundation and an engaged investor base, Singapore continues to shine as a beacon for crypto innovation in Asia and beyond.
