Singapore Exchange (SGX) doesn’t have plans to include crypto listings in the near future, according to its CEP Loh Boon Chye.
Speaking at a Reuters NEXT conference, which took place earlier this week, Chye was asked about the possible entry of crypto exchange-traded funds (ETFs) on SGX. Chye responded that he believes conditions for such moves have not yet been met while pointing out the unstable conditions surrounding crypto products.
“I think for any new product launches, it’s important for this to have a sustainable ecosystem support. That really means demand, that really means governance, that really means structure,” Chye said.
However, Chye didn’t rule out SGX welcoming crypto listings in the future.
“You never say never; as time evolves, and as the ecosystem comes together, we are always known to be the most innovative exchange or platform in the world,” he added.
More markets have recently become open to ETFs. Back in March, the U.S. Securities and Exchange Commission (SEC) permitted the listing and trading of eight separate ETFs that invest in Ether, the cryptocurrency that supports the Ethereum blockchain. However, the SEC indicated that registration statements for these ETFs remain under review. Additionally, the Stock Exchange of Hong Kong approved six bitcoin and ether ETFs.