US institutions can trade Bitcoin and Ethereum perpetual futures, SGX receives CFTC authorization

Odaily reports: The Singapore Exchange (SGX) has been authorized by the U.S. Commodity Futures Trading Commission (CFTC) under Regulation 48.10, allowing U.S. institutional investors to trade its Bitcoin and Ethereum perpetual futures. KC Lam, Head of Crypto Derivatives at SGX, stated that this move connects traditional U.S. financial trading institutions with Asian liquidity pools. SGX launched Bitcoin (BTP) and Ethereum (ETP) perpetual futures in November 2025, with cumulative trading volume reaching $5.8 billion and approximately 400,000 contracts as of August this year, averaging about 1,300 contracts and $19 million in notional value per day. Of this, Bitcoin accounted for 66% of cumulative open interest and 83% of average daily trading volume.

SGX stated that the account opening and onboarding process for U.S. clients typically takes 2 to 4 weeks, and it expects to begin serving U.S. clients within the next 1 to 2 months. SGX employs traditional margin call and additional collateral mechanisms, with clearing members bearing the intermediary risk buffer, and does not accept stablecoins as collateral. SGX plans to next launch Bitcoin and Ethereum periodic futures and options products, and gradually expand to other major crypto assets.