SGX Derivatives breaks new ground with institutional-grade crypto perpetual futures

Bridging Traditional Finance and Digital Assets

SGX Derivatives is introducing Bitcoin and Ethereum perpetual futures, aiming to integrate the trust and transparency of global financial markets into the crypto trading landscape. This launch represents a significant advancement for the industry, bringing a new level of institutional discipline to dynamic crypto products.

Scheduled to launch on November 24, 2025, these contracts feature a continuous, no-expiry structure popular within crypto communities. This is combined with the established clearing and margining standards of listed derivatives. The initiative allows investors to access institutional-grade crypto perpetual futures within a regulated, exchange-cleared framework, facilitating a stronger connection between traditional finance and digital asset markets.

A Transformative Development for Crypto Markets

Perpetual futures command substantial global daily average volumes exceeding US$187 billion, with Asia being a primary hub for this growth. However, much of this trading activity currently occurs on offshore platforms outside of Asia. By bringing these volumes onto an exchange, SGX aims to empower institutions to trade and gain exposure to Bitcoin and Ethereum with enhanced confidence and scale.

Michael Syn, President, SGX Group, highlighted the significance of this move: "Digital assets have found their place in 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. By bringing the perpetuals into an exchange-cleared, regulated framework, we offer institutions the trust and scalability they have been waiting for."

The new crypto perpetual contracts will be benchmarked against the iEdge CoinDesk Crypto Indices, ensuring price discovery aligns with widely recognized institutional-grade benchmarks.

Andy Baehr, Head of Product and Research, CoinDesk Indices, commented on the development: "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."

Industry Support for Expanded Institutional Access

The launch has garnered positive reactions from market participants who see it as a timely and strategic advancement for accessing increasingly mainstream crypto markets.

Leonard Hoh, General Manager, Bitstamp by Robinhood – Asia Pacific, stated: "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."

Patrick Yeo, Head of Digital Assets, Global Financial Markets, DBS Bank, remarked: "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."

Joseph Chang, Co-Founder and CEO, Liquibit Capital, expressed his enthusiasm: "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."

CJ Fong, APAC General Manager, GSR, added: "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."

Gracie Lin, CEO, OKX Singapore, noted: "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."

Melvin Deng, CEO, QCP, commented: "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."

Ramesh Arumugam, Managing Director, Asia Pacific, Virtu Financial, stated: "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."

Supporting Information

The official Press Release is available in the Annex.

For further details on SGX Crypto Perpetual Futures, please visit www.sgx.com/crypto.

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