SGX opens Bitcoin and Ethereum perpetual futures to U.S. institutions, unlocking Asian crypto liquidity.

Singapore Exchange (SGX) has received authorization from the U.S. Commodity Futures Trading Commission (CFTC) under Regulation 48.10, allowing U.S. institutional investors to trade its Bitcoin and Ethereum perpetual futures. KC Lam, head of crypto derivatives at SGX, stated that the move connects U.S. traditional financial institutions with Asian liquidity pools, marking another milestone for crypto derivatives’ integration into the regulated traditional financial system. SGX launched Bitcoin (BTP) and Ethereum (ETP) perpetual futures in November 2025. As of August this year, their cumulative trading volume reached $5.8 billion, with around 400,000 lots, an average daily trading volume of roughly 1,300 lots, and a nominal value of $19 million. Bitcoin accounts for 66% of total open interest and 83% of average daily trading volume. SGX noted that the onboarding and access process for U.S. clients typically takes 2 to 4 weeks, and it expects to start serving U.S. customers in the next 1 to 2 months. Unlike crypto-native exchanges, SGX adopts traditional margin call and additional collateral mechanisms, with clearing members serving as an intermediate risk buffer, and does not accept stablecoins as collateral. SGX’s next plans include launching fixed-term futures and options for Bitcoin and Ethereum, and gradually expanding to other mainstream crypto assets.