REGULATION | The Singapore Exchange (SGX) Gets CFTC Authorization to Offer Bitcoin, Ether Perps to U.S. Institutions

Singapore Exchange (SGX) has opened its Bitcoin and Ether perpetual futures contracts to U.S. institutional investors expanding access to regulated crypto derivatives as traditional financial firms increase their participation in digital assets.

The contracts, which trade without an expiry date, were launched by SGX in November 2025 and are designed for institutional, accredited and expert investors. SGX said the products provide exchange-traded clearing, margining and risk-management standards for cryptocurrency derivatives.

The move gives U.S. institutions another venue for trading bitcoin and ether derivatives outside U.S. exchanges while extending SGX’s push to build institutional crypto markets.

“[This is] an important milestone [that] bridges the U.S. TradFi participants trading cyrpto futures with Asian liquidity pools [and] legitimizes crypto derivatives as a regulated asset class,” said KC Lam, Head of Crypto Derivatives at SGX Group.

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Regulation 48.10 is the framework under which the U.S. Commodity Futures Trading Commission allows a registered Foreign Board of Trade (FBOT), an overseas exchange recognized by the CFTC, to give U.S. participants direct access to its trading system without the exchange needing to separately register as a full U.S.-regulated exchange.