Singapore Exchange’s derivatives arm is preparing to introduce one of crypto’s most traded products to the regulated markets, announcing that bitcoin and ether perpetual futures will launch on Nov. 24. The new contracts aim to pair the structure and oversight of traditional futures with the flexibility that has made perpetuals the backbone of crypto derivatives trading.
“Digital assets have become a meaningful part of institutional portfolios,” said Michael Syn, president of SGX Group. “Our approach is deliberate — applying established global market discipline to crypto’s most active payoff.”
Perpetual futures differ from conventional futures by having no expiry date, allowing traders to hold positions indefinitely without rolling contracts. Despite being concentrated on offshore platforms, perpetuals dominate crypto derivatives, generating more than $187 billion in daily volume. These contracts are kept close to spot price through a funding-rate mechanism that redistributes payments between long and short positions.
SGX’s perpetual futures will reference the iEdge CoinDesk Crypto Indices, which serve as widely used benchmarks for institutional price discovery.
“More than two-thirds of all crypto trading happens in derivatives, and perpetual futures sit at the center of that activity,” said Andy Baehr, head of product and research at CoinDesk Indices. “We’re pleased to support SGX as they bring this structure onshore with traditional clearing and margining.”
The iEdge CoinDesk index suite includes real-time benchmarks and daily reference rates for bitcoin and ether, published at 4 p.m. SGT (8 a.m. UTC) using pricing sourced across liquid, reliable exchanges.
Key institutions, including DBS Bank and OKX, welcomed the launch. Patrick Yeo, head of digital assets for global financial markets at DBS, said perpetual futures allow institutions to manage exposure with greater precision and capital efficiency than direct spot trading.
OKX Singapore CEO Gracie Lin added that demand for regionally anchored benchmarks is growing as institutions blend crypto allocations with traditional assets.
“This is a natural phase in Singapore’s market evolution,” Lin said. “Stronger reference points help build transparency and confidence, supporting long-term ecosystem growth.”
