SGX Clears Hurdle for US Institutional Access to Crypto Derivatives
The Singapore Exchange has cleared a regulatory hurdle that will allow US institutional investors to trade its Bitcoin and Ether perpetual futures. SGX obtained authorization from the US Commodity Futures Trading Commission under Regulation 48.10, which allows a registered Foreign Board of Trade to give US participants direct access to its trading system without setting up a separate exchange.
This approval marks a significant shift for Asian crypto markets, opening a new channel connecting Wall Street trading desks to liquidity pools that were previously off-limits. SGX's Bitcoin and Ether perpetual contracts have processed $5.8 billion in cumulative traded volume since their launch in late November 2025.
Bitcoin dominates activity, accounting for 66% of open interest and 83% of daily trading volume since inception. The exchange uses margin calls and collateral top-ups instead of auto-liquidations, and excludes stablecoins as acceptable collateral. SGX plans to launch dated futures and options for Bitcoin and Ether as its next product step.