On 17 November 2025, SGX announced that its derivatives arm will launch crypto perpetual futures for Bitcoin and Ethereum beginning 24 November 2025. These contracts will be made available exclusively to accredited and institutional investors, according to SGX’s official statement. Perpetual futures differ from standard futures in that they have no fixed expiry date, allowing for continuous trading. SGX confirmed that these instruments will be cleared and managed using conventional derivatives borrowing logic.

The new products will use the iEdge CoinDesk Crypto Indices for Bitcoin and Ethereum as their benchmarks, underscoring a continued focus on institutional-grade infrastructure. This marks a significant step in offering structured crypto access within a regulated venue.

This move arrives during a period of downturn in the broader crypto markets. While 2025 began with a significant rally, recent months have seen price corrections and weakened sentiment. SGX acknowledged this shift in investor appetite but emphasized the demand from institutions seeking regulated exposure to crypto assets.

Despite the timing, the global market for perpetual futures remains substantial, reportedly exceeding US$187 billion in daily trading volume. Much of this activity currently takes place on offshore, unregulated platforms. By introducing these products, SGX is positioning itself as an onshore alternative, offering regulatory clarity and operational transparency.

What This Means for Institutional Users

The launch of perpetual futures provides institutional investors—such as asset managers, hedge funds, and other accredited entities—with a new tool for managing digital asset exposure. These contracts offer a cleared and regulated venue, linked to credible benchmark indices, and designed for continuous trading.

SGX has made it clear that this product is intended solely for institutional use, with no immediate plans for retail access. This distinction aligns with broader trends in global crypto finance, where regulatory bodies have urged caution in retail-facing derivatives products.

Relevance to Southeast Asia and the Philippines

Singapore continues to strengthen its position as a regional hub for fintech and digital asset infrastructure. For neighboring markets like the Philippines, this development highlights the growing institutionalization of crypto and digital finance.

Even amid market uncertainty, SGX’s decision to launch Bitcoin and Ethereum perpetual futures underlines the evolving nature of crypto market infrastructure. The SGX launch emphasizes the importance of clearing and compliance standards for local exchanges and fintech firms. It also increases the pressure on regulators such as the Bangko Sentral ng Pilipinas (BSP) and the Securities and Exchange Commission (SEC) to provide more explicit guidance on how crypto derivatives may interact with existing frameworks.

Filipino institutional investors may find opportunities in these new instruments, particularly for exposure strategies that require regulated venues. More broadly, the move signals a shift in the region’s crypto narrative—from mass adoption to infrastructure maturation.

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