US Institutions to Gain Access to Bitcoin and Ether Futures: Asian Exchange Opens the Door
SGX has received authorization to open Bitcoin and Ether perpetual futures contracts to US institutional investors following CFTC approval.
The Singapore Exchange (SGX) has received authorization to open Bitcoin and Ether perpetual futures contracts to US institutional investors under CFTC’s Regulation 48.10 framework. Speaking to CoinDesk, KC Lam, Head of Crypto Derivatives at SGX, said the development will connect traditional financial institutions in the US with liquidity pools in Asia.
This regulation allows eligible foreign exchanges to open their existing trading systems to US institutional participants without requiring a full exchange registration in the US. US institutions, which previously could not trade these contracts, will now be able to access the market through SGX’s Bitcoin contract BTP and Ether contract ETP.
SGX’s crypto futures products have reached a cumulative trading volume of approximately 400,000 lots and $5.8 billion since the end of November 2025. As of August 2026, the average daily volume of the two contracts reached 1,300 lots, or approximately $19 million. Bitcoin has accounted for 66% of open interest and 83% of the average daily volume since inception.
US institutions to enter the market via SGX
New customers will be onboarded through SGX’s clearing members rather than directly. During this process, customers must undergo identity verification, deposit collateral, and complete API connectivity. SGX is preparing its US clearing members to onboard clients within the next one or two months. The onboarding process is reported to typically take two to four weeks.
SGX products utilize a risk structure different from the auto-liquidation mechanism on crypto-focused platforms. For positions, margin calls are issued first, and customers are requested to deposit additional collateral. Furthermore, trading and clearing activities are kept separate; clearing members act as a risk buffer between transactions. Stablecoins are not accepted as collateral.
The exchange’s next step includes plans to offer futures and options contracts for Bitcoin and Ether. SGX aims to expand its new products gradually.