Nearly Half of Crypto Holders Exit Market as Ownership Falls to 29%
Singapore’s once-booming interest in cryptocurrency has seen a sharp decline, with new data revealing that ownership of digital assets has plunged from 40% in 2024 to just 29% in 2025. The significant drop comes as investors increasingly choose to liquidate their holdings to capitalise on record-breaking prices, according to a poll released on May 21.
Conducted in February by crypto exchange Independent Reserve Singapore, the survey polled 1,500 residents aged 18 and above. It revealed that nearly half—49%—of those who owned crypto had sold some or all of their holdings in the past year. Among these, 67% reported they had turned a profit, while others likely exited the market due to concerns over volatility and global economic instability.
A major driver behind the sell-off appears to be the rally in Bitcoin prices earlier this year. On January 20, Bitcoin surged past an all-time high of US$109,000 (S$140,600), coinciding with the second inauguration of US President Donald Trump, who had indicated strong support for expanding the cryptocurrency sector.
“Sentiment around Bitcoin has seen a shift towards long-term value and away from chasing hype,” said Mr Lasanka Perera, chief executive of Independent Reserve Singapore.
Despite the downturn in overall ownership, Bitcoin and Ethereum remain dominant in the portfolios of crypto investors. The report found that 68% of crypto holders still own Bitcoin, while 48% maintain holdings in Ethereum.
Notably, the decline in crypto ownership has also been influenced by older investors scaling back or entirely divesting from digital assets. Many cited the desire to reduce exposure to high-risk markets as macroeconomic uncertainties continue to cast a shadow on global financial systems.
Mr Perera added that the current landscape reflects a more cautious and maturing market, where seasoned investors are opting to manage risk rather than ride speculative waves.
While the recent figures mark a significant shift in Singapore’s crypto landscape, they also highlight the evolving attitudes of investors—some cashing in at the top, others retreating amid uncertainty. Whether this trend continues will likely depend on broader economic developments and the future regulatory direction for digital assets.
As the crypto market undergoes this period of recalibration, Singapore’s investor community appears to be moving towards a more measured, risk-aware approach—one that could define the next chapter of cryptocurrency adoption in the region.
