SGX Derivatives, a subsidiary of Singapore Exchange, has announced the launch of Bitcoin and Ether perpetual futures, set to go live on November 24, 2025. The contracts bring institutional-grade clearing and margining standards to crypto-native perpetual products, offering regulated access for accredited and institutional investors.
Perpetual Futures Market Exceeds $187B Daily Volume
According to CoinDesk Research, global perpetual futures account for over $187 billion in average daily trading volumes from January to September 2025, with Asia as the epicenter. Despite this, most volume still trades on offshore, unregulated venues. SGX aims to shift these flows on-exchange, providing a trusted and scalable framework for institutions.
SGX President: Applying Institutional Discipline to Crypto
Michael Syn, President of SGX Group, said, "Digital assets have made their way into institutional investors' portfolios. 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." He emphasized that bringing perpetuals into a regulated, exchange-cleared environment delivers the trust and scalability institutions require.
Benchmarked to iEdge CoinDesk Indices
The contracts reference the iEdge CoinDesk Crypto Indices, already widely used as institutional-grade benchmarks. Andy Baehr, Head of Product and Research at CoinDesk Indices, commented, "More than two-thirds of all crypto trading is in derivatives, and perpetual futures offer unique features that have made them a favorite. We are excited to support the benchmark rate for this innovative contract."
Industry Support: "A Defining Moment for Asia"
Market participants broadly welcomed the initiative. Leonard Hoh, GM of Bitstamp by Robinhood Asia Pacific, said the launch reflects evolving market infrastructure and a Singapore-anchored benchmark. Patrick Yeo, Head of Digital Assets at DBS Bank, noted that clearing perpetuals under traditional standards "paves the way for broader adoption." Joseph Chang of Liquibit Capital called it a "key step" in bringing regulated liquidity. CJ Fong of GSR described it as a "critical milestone." Gracie Lin of OKX Singapore highlighted growing demand for regional benchmarks. Melvin Deng of QCP labeled it "a defining moment for Asia digital asset markets." Ramesh Arumugam of Virtu Financial added that central clearing enhances liquidity and price discovery.
The launch positions SGX as a bridge between traditional finance and digital assets, offering institutional investors a compliant venue for crypto derivative exposure.