Singapore Exchange (SGX) has received authorization from the US Commodity Futures Trading Commission (CFTC) under Regulation 48.10. This approval allows American institutional investors, including hedge funds and asset managers, to trade Bitcoin and Ether perpetual futures on the Asian exchange without requiring the bourse to register domestically.
Access for US firms will be facilitated through existing SGX clearing members. The onboarding process is estimated to take two to four weeks, with live trading access expected within one to two months. SGX provides a regulated infrastructure for these instruments, including traditional margin calls, collateral top-ups, and central clearing, while excluding stablecoins as collateral.
The perpetual contracts were launched on November 24, 2025. By the time of the CFTC announcement, cumulative trading volume reached $5.8 billion, representing approximately 400,000 lots. Peak daily volume hit 11,500 lots, or $145 million. As of the end of August 2026, open interest stood at 1,300 lots, valued at $19 million.
Bitcoin currently accounts for 66% of open interest and 83% of the average daily trading volume. While CME Group has dominated the US regulated futures market with dated contracts, the SGX offering introduces a new alternative for US desks. The exchange plans to further expand its crypto lineup to include dated futures and options products.
