SGX Takes Aim at Crypto Perpetual Futures Market with US Institutional Push

The Singapore Exchange (SGX) is poised to become the first major traditional exchange to offer cryptocurrency perpetual futures to US institutions, expanding its reach into a lucrative market.

SGX filed with the US Commodity Futures Trading Commission (CFTC) in August to offer the contracts to US investors. The CFTC has 10 days to object to the move, which would give SGX access to a deeper pool of hedge funds, asset managers, and proprietary trading firms.

The exchange launched Bitcoin and Ether perpetual futures in November 2025 and saw $6 billion in trading volume since launch. However, the liquidity remains with crypto-native venues like Hyperliquid, which handles around $80-100 billion a month in Bitcoin and Ether perps.

SGX's head of crypto derivatives, KC Lam, said the exchange is targeting institutions, accredited investors, and expert investors who are not trading on weekends. He also emphasized that SGX can complement existing US liquidity pools by offering 24/7 access to its products.