Singapore Exchange’s derivatives division is set to introduce one of crypto’s most widely traded products into a regulated environment, confirming it will launch bitcoin and ether perpetual futures on Nov. 24. The move brings a core instrument of crypto markets — typically confined to offshore platforms — under the structure and safeguards of a traditional exchange.
“Digital assets have become a permanent fixture in institutional investment,” said Michael Syn, president of SGX Group. “Launching perpetual futures is a deliberate step in applying the same disciplined market architecture that supports global derivatives to crypto’s most active product.”
Perpetual futures differ from conventional futures by having no expiry date, enabling traders to keep positions open indefinitely without managing contract rollovers. Even though they operate largely on unregulated venues, perpetuals dominate digital asset trading, driving over $187 billion in daily turnover. Their pricing is anchored by a funding-rate mechanism, a periodic payment system designed to keep futures aligned with spot market values.
The upcoming SGX contracts will reference the iEdge CoinDesk Crypto Indices, a benchmark suite commonly relied upon by institutions for transparent price discovery.
“Derivatives account for more than two-thirds of crypto trading, and perpetuals are at the center of that activity,” said Andy Baehr, head of product and research at CoinDesk Indices. “We’re excited to support SGX as they bring these instruments onshore with established clearing and margin frameworks.”
The iEdge CoinDesk Cryptocurrency Indices provide real-time data updated every second, along with daily reference rates published at 4 p.m. SGT (8 a.m. UTC) — even on weekends and holidays — based on trading across liquid, reputable exchanges.
Institutions such as DBS Bank and OKX Singapore praised SGX’s announcement, calling it a timely expansion of regulated access to digital assets.
Patrick Yeo, head of digital assets for global financial markets at DBS Bank, noted that perpetual futures will give professional traders more precise and capital-efficient tools than spot markets, where exposure requires outright ownership of the asset.
OKX Singapore CEO Gracie Lin said that anchoring these products to regional benchmarks enhances transparency and aligns with institutional portfolio strategies that blend crypto with traditional financial instruments.
“This is a natural milestone in Singapore’s market development,” Lin said. “A clearer benchmark framework boosts confidence and underpins long-term industry growth.”
