SGX Wins CFTC Approval for BTC, ETH Perpetual Futures to US Institutions
Singapore Exchange (SGX) is expanding its cryptocurrency derivatives offerings to US institutional investors. The exchange has secured approval from the Commodity Futures Trading Commission (CFTC), allowing it to offer Bitcoin (BTC) and Ether (ETH) perpetual futures to these investors.
This move marks a significant step towards integrating crypto derivatives into traditional finance. SGX plans to begin offering this service within one to two months, after opening accounts for US institutions and integrating trading systems.
The exchange has already seen substantial trading volume in its Bitcoin and Ether perpetual futures, with around 400,000 contracts traded through August. SGX aims to expand its offerings further, including dated futures and options for Bitcoin and Ether, as well as other major cryptocurrencies.