SGX Receives CFTC Approval to Offer Bitcoin and Ethereum Perpetual Futures to U.S. Institutions

The Singapore Exchange (SGX) has received authorization from the U.S. Commodity Futures Trading Commission (CFTC) to allow U.S. institutional investors to trade Bitcoin and Ethereum perpetual futures. KC Lam, head of SGX's crypto derivatives, stated that this move connects traditional financial trading institutions in the U.S. with Asian liquidity pools, facilitating the entry of crypto derivatives into the regulated traditional financial system. SGX plans to launch Bitcoin (BTP) and Ethereum (ETP) perpetual futures in November 2025, with a cumulative trading volume of $5.8 billion as of August 2023, approximately 400,000 contracts, and an average daily trading volume of about 1,300 contracts, with a notional value of $19 million. Bitcoin accounts for 66% of the cumulative open interest and 83% of the average daily trading volume. SGX noted that the account opening and access process for U.S. clients typically takes 2 to 4 weeks, with services expected to begin for U.S. clients in the next 1 to 2 months. Unlike crypto-native exchanges, SGX employs traditional margin calls and additional collateral mechanisms, with clearing members bearing the intermediate risk buffer and not accepting stablecoins as collateral. SGX also plans to introduce futures and options products for Bitcoin and Ethereum, gradually expanding to other mainstream crypto assets.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.