Singapore and Thailand keep bitcoin ETFs at arm's length

SINGAPORE/BANGKOK -- Financial regulators in Singapore and Thailand have poured cold water on cryptocurrency-linked funds this week, even after their U.S. counterparts approved the introduction of such products there.

So-called bitcoin exchange traded funds, or securities that track the performance of the world's largest cryptocurrency, were approved by the U.S. Securities and Exchange Commission earlier this month. These bitcoin ETFs allow investors to gain exposure to crypto without needing to directly purchase digital currencies.