SGX Introduces Perpetual Futures for Bitcoin and Ethereum

On November 24, 2025, the Singapore Exchange (SGX) launched perpetual futures for Bitcoin and Ethereum. On its first day of trading, the new contracts saw nearly 2,000 contracts exchanged, with a nominal value of approximately $35 million. This launch represents a significant integration of cryptocurrency derivatives into regulated financial markets, aiming to enhance institutional access and potentially influence future market liquidity and participation trends.

The introduction of these regulated derivatives is expected to bolster confidence in cryptocurrency markets by offering a more transparent and overseen trading environment compared to many offshore exchanges. The SGX reported a closing open interest of 58 contracts, valued at around $1 million, reinforcing its position as a viable platform for institutional investors engaging with crypto assets.

Market observers have reacted positively to this development. Ahmed from SGX described the launch as "a very strong positive signal that we’re excited about," reflecting a broader industry movement towards legitimizing crypto derivatives trading through established and regulated exchanges.

Bitcoin Price and Institutional Involvement

The introduction of regulated cryptocurrency derivatives on the SGX is seen as a parallel to earlier developments in the US with CME and Cboe, which also aimed to increase institutional participation and legitimacy in the crypto space.

Bitcoin (BTC) is currently priced at $86,144.35, with a market capitalization of $1.72 trillion, representing 57.83% of the total cryptocurrency market. Its trading volume in the last 24 hours was $67.86 billion, showing a 1.01% increase. Over the past 30 days, BTC has experienced a decline of 24.28%.

Research suggests that the move to offer centrally cleared futures could further enhance the confidence of traditional financial systems in cryptocurrency offerings. With continued institutional backing from entities such as Marex, the potential impact on financial and regulatory outcomes is anticipated to be significant.