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Singapore to Launch Bitcoin and Ether Perpetual Futures, Bringing Regulated Structure to a US$187B Crypto Market
- SGX will list Bitcoin and Ether perpetual futures on 24 November, giving Asia its first exchange-cleared, regulated version of crypto’s most traded derivative.
- The contracts replace offshore auto-liquidation systems with traditional margining and clearing processes aimed at improving transparency and institutional reliability.
- The launch fits into Singapore’s broader regulated digital-asset strategy and parallels similar perpetual futures initiatives in the US and Europe.
The Singapore Exchange (SGX) will introduce perpetual futures for Bitcoin and Ether on 24 November, positioning itself as the first major exchange in Asia to offer exchange-cleared versions of crypto’s most heavily traded derivative structure. These products, which do not expire and rely on funding rates to balance long and short interest, are popular instruments for speculating on asset prices and account for more than US$187 billion (AU$286 billion) in global daily trading volume.
Perpetual futures have also been linked to severe market disruptions, including an October selloff in which at least US$19 billion (AU$29 billion) in futures positions were wiped out due to auto-deleveraging mechanisms on offshore exchanges.
SGX aims to address these weaknesses by substituting auto-liquidation with the margining processes used across global derivatives markets. Under this approach, clearing members manage client positions and bear responsibility for meeting margin calls, creating a more predictable environment for institutions.
SGX’s leadership argues that existing offshore venues lack transparency, particularly around liquidation prices and the involvement of internal market makers, which can complicate execution for professional traders seeking stable exposure. The exchange says its regulated structure is designed to deliver the position certainty that institutions require.
Related: SEC Delays Decisions on Bitcoin, Ethereum, Solana, and XRP ETFs Until October
How the New Futures Will Operate
Participation will be limited to institutional, accredited and expert investors, consistent with Singapore’s regulatory standards that restrict complex derivatives to qualified market participants. Bitcoin contracts will be set at 0.2 BTC and Ether at 5 ETH, each moving in increments of US$1 (AU$1.53). Trading will be split between a morning-to-afternoon session and an overnight session, with settlement in USD.
The contracts will use benchmarks from the iEdge CoinDesk Crypto Indices and apply a capped funding-rate model, supporting stable alignment with spot markets.
This launch follows earlier perpetual futures introduced by EDXM International in July and forms part of Singapore’s broader effort to build a tightly regulated digital-asset infrastructure overseen by the Monetary Authority of Singapore. The initiative also mirrors moves by exchanges such as CME and Cboe, both exploring perpetual offerings of their own.
Related: 148K BTC Dumped in Retail Panic as Analysts Brace for More Downside
Author
Rachel Lourdesamy
Rachel is a freelance writer based in Sydney with experience within financial services, marketing, and corporate communications in the APAC region. An avid reader and a graduate of the University of Sydney, she covers topics including business, finance and human interest.
