SGX Clears Regulatory Hurdle for US Institutional Access to Crypto Derivatives
The Singapore Exchange (SGX) has cleared a significant hurdle in allowing US institutional investors to trade its Bitcoin and Ether perpetual futures. The exchange received authorization from the U.S. Commodity Futures Trading Commission under Regulation 48.10, which enables direct access for American traders without SGX registering as a US exchange.
This regulatory approval marks a notable shift for the derivatives market, allowing Wall Street trading desks to connect with Asian liquidity pools previously off-limits. The exchange's crypto perpetual futures, launched in late November 2025, have processed $5.8 billion in cumulative traded volume, with Bitcoin dominating activity at 66% of open interest and 83% of daily trading volume.
SGX uses margin calls and collateral top-ups instead of auto-liquidations when positions move against a trader, and excludes stablecoins as acceptable collateral. The exchange plans to launch dated futures and options for Bitcoin and Ether as its next product step.