SGX Brings Crypto Perpetual Futures Onshore With Regulated Bitcoin And Ethereum Contracts For Institutional Investors

Singapore Exchange’s derivatives arm SGX Derivatives is moving deeper into digital assets with the launch of Bitcoin and Ethereum perpetual futures, bringing one of crypto’s most heavily traded products into a fully regulated, exchange-cleared environment.

 

Launching on 24 November 2025, the new contracts combine the continuous, no-expiry structure favoured by crypto-native traders with the clearing, margining and risk controls familiar to institutional users of listed derivatives. The move is designed to give professional investors a way to access institutional-grade crypto perpetual futures within a framework aligned to global market standards.

 

Perpetuals: Bringing a crypto-native product on exchange

Perpetual futures are now one of crypto’s dominant instruments, accounting for an estimated US$187 billion in average daily trading volumes globally. Much of this activity is concentrated on offshore venues, often outside traditional regulatory perimeters and away from Asia-based benchmarks and clearing houses.

 

By listing exchange-cleared Bitcoin and Ethereum perpetual futures, SGX Derivatives aims to:

Bring a portion of these flows onshore and on-exchange

Provide regulated access for institutional desks, banks, brokers and funds

Offer familiar margining, risk and settlement mechanics similar to other listed futures

 

Michael Syn, President of SGX Group, framed the launch as a logical next step in the institutionalisation of digital assets:

 

Digital assets have made their way into institutional investors' portfolio. We have taken the next logical and deliberate step – applying the same institutional discipline that underpins global markets to crypto's most traded pay-off. By bringing the perpetuals into an exchange-cleared, regulated framework, we offer institutions the trust and scalability they have been waiting for.

Michael Syn, President, SGX Group

 

 

Benchmarked to institutional-grade crypto indices

The new SGX crypto perpetual futures will reference iEdge CoinDesk Crypto Indices, aligning the contracts with benchmarks already used by asset managers, structured product issuers and other institutional participants.

 

CoinDesk Indices, the digital asset indexing business behind the benchmarks, views the launch as further validation of perpetual futures as a core market structure in crypto:

 

More than two-thirds of all crypto trading is in derivatives, and perpetual futures offer unique features and benefits that have made them a favourite. We are excited to see SGX Derivatives bring perpetual futures onshore with traditional margining and clearing and are delighted to support the benchmark rate for this innovative contract.

Andy Baehr, Head of Product and Research, CoinDesk Indices

 

 

Institutional ecosystem lines up behind SGX’s move

The initiative has drawn support from a broad range of institutional and crypto-native firms across the region:

Bitstamp by Robinhood – a global crypto exchange with strong European and Asia-Pacific presence

DBS Bank – one of Asia’s largest banks and an early entrant in institutional digital assets

Liquibit Capital – a digital asset trading firm

GSR – a global market maker and liquidity provider in digital assets

OKX Singapore – the Singapore entity of global exchange OKX

QCP – a Singapore-based digital asset trading firm

Virtu Financial – a major electronic market maker across asset classes

 

Leonard Hoh, General Manager, Bitstamp by Robinhood – Asia Pacific, highlighted the importance of a Singapore-anchored benchmark:

 

This launch is reflective of how market infrastructure and participation are evolving, and it is exciting to see a Singapore-anchored benchmark to reflect the liquidity we see in Asia. This is an important step for institutions to trade at scale, and we are proud to partner with SGX to provide connectivity to the global crypto ecosystem.

Leonard Hoh, General Manager, Bitstamp by Robinhood – Asia Pacific

 

 

From the banking side, DBS Bank sees perpetual futures as a natural extension of how institutional traders manage their digital asset exposure:

 

Crypto perpetuals offer institutional traders enhanced precision and capital efficiency when managing their digital asset portfolios as compared to spot trading. In addition, clearing and margining these derivatives under the same standards as traditional instruments paves the way for broader adoption, and marks a new milestone in the growing maturation of the digital asset ecosystem. DBS is pleased to support SGX's launch as a member of its cryptocurrency index committee, and we are committed to sharing our expertise and insights as a pioneer in this space to foster a robust and responsible digital asset ecosystem in Singapore.

Patrick Yeo, Head of Digital Assets, Global Financial Markets, DBS Bank

 

 

For trading firms and market makers, the focus is on risk management, liquidity and scalable participation:

 

We are excited to support SGX's crypto perpetual futures launch, a key step in bringing regulated liquidity to Asia's growing digital asset markets. Exceptional performance begins with robust risk management, and SGX's move delivers exactly that.

Joseph Chang, Co-Founder and CEO, Liquibit Capital

Institutional-grade perpetual futures are a critical milestone in the evolution of crypto markets. By combining SGX's global credibility with crypto-native innovation, we are creating the foundation for scaled, regulated participation in digital assets.

CJ Fong, APAC General Manager, GSR

We have seen growing demand for regionally anchored benchmarks, especially as institutions look to integrate crypto exposure alongside other asset classes. It is a natural step in Singapore's market evolution, and this deeper reference point adds transparency and confidence for institutional participants, helping to support long-term growth of the ecosystem.

Gracie Lin, CEO, OKX Singapore

SGX's entry into perpetual futures is a defining moment for Asia digital asset markets. Institutional participants have long sought a regulated venue that combines the familiarity of traditional market infrastructure with the innovation of crypto-native products. This launch highlights the innovative approach from SGX to encourage global investors to engage in digital assets in Singapore.

Melvin Deng, CEO, QCP

Centrally cleared cryptocurrency perpetual futures enhance the foundation for market liquidity, directly drawing from our existing daily flows. This infrastructure aids price discovery and execution, fundamentally boosting our capacity and ability to confidently quote to institutional counterparties.

Ramesh Arumugam, Managing Director, Asia Pacific, Virtu Financial

 

Bridging traditional markets and digital assets

SGX Derivatives’ move into institutional-grade crypto perpetual futures underscores how quickly digital assets are converging with traditional market infrastructure. For institutions that have so far limited their activity to spot crypto or offshore venues, a Singapore-regulated, centrally cleared perpetual product may lower operational and governance hurdles for onboarding.

 

The contracts are expected to appeal to:

Hedge funds and proprietary trading firms seeking basis, arbitrage and relative value strategies

Banks and broker-dealers looking to offer structured access to crypto under familiar risk frameworks

Asset managers and family offices exploring capital-efficient hedging and tactical exposure

 

If volumes migrate from offshore platforms into SGX’s framework, the exchange’s Bitcoin and Ethereum perpetual futures could become a reference point for institutional price discovery in Asia, further strengthening Singapore’s role as a hub for regulated digital asset activity.

 

For more information on SGX Crypto Perpetual Futures, visit www.sgx.com/crypto.

 

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