In 2024, crypto ownership among Singaporeans declined by 11%, with half of holders selling their assets, according to the 2025 Independent Reserve Cryptocurrency Index (IRCI).
Instead of diving into the recent market rally, many investors are locking in profits and rebalancing portfolios. The survey revealed that 49% of Singaporean crypto investors sold part or all of their holdings over the past year, with 67% of those sellers making a profit.
Lasanka Perera, CEO of Independent Reserve Singapore, described this trend as a market “recalibration,” rather than a retreat from crypto.
Despite the drop, crypto awareness and prices rose, with ownership falling to 29% from 40% in 2024. Bitcoin and Ethereum remain the most popular assets, held by 68% and 48% of investors respectively. Additionally, 65% of investors hold between two and five cryptocurrencies, indicating a more selective approach.
“Singaporeans are now investing in crypto with more thought and discipline. They’re making smart plays and understand the importance of being in the right asset class. It’s exciting to see the market become more informed and mature around digital assets.”
Lasanka Perera, CEO of Independent Reserve Singapore
One in five Singaporeans currently invests in crypto, compared to nearly half who prefer stocks or fixed deposits, reflecting a shift toward safer options amid global uncertainty. Savings in cash or fixed deposits have also increased from 42% to 49% year-over-year.
Despite this, confidence among crypto holders remains strong, with 53% likely to increase their crypto holdings within the next 12 months. Public awareness of crypto has reached 94%, although trust depends on stronger regulations and ethical conduct by companies.
A recent survey by crypto payment firm Triple-A revealed that over half of Singaporean crypto holders use digital assets for payments, with 52% already paying for goods and services and 67% planning to increase usage.