SGX's bitcoin and ether perpetual futures are now open to U.S. institutions

The Singapore Exchange (SGX) has secured authorization from the U.S. Commodity Futures Trading Commission (CFTC) under Regulation 48.10, granting U.S. institutional investors direct trading access to its bitcoin and ether perpetual futures. This regulatory approval bridges traditional U.S. institutional trading desks with Asian liquidity pools, establishing a regulated bridge between American TradFi capital and offshore crypto derivatives infrastructure. Since debuting in late November 2025, SGX's crypto perpetual contracts have generated $5.8 billion in cumulative traded volume across approximately 400,000 lots. Bitcoin dominates exchange activity, representing 66% of open interest and 83% of daily average trading volume, which averaged $19 million per day in August, peaking at a daily record of $145 million in notional value. SGX differentiates its offering from crypto-native venues by utilizing a traditional risk management architecture that replaces automated liquidation cascades with standard margin calls and collateral top-ups. Looking ahead, the exchange plans to broaden its derivatives lineup by introducing dated futures and options for both bitcoin and ether.