SGX Derivatives to Launch Bitcoin and Ether Perpetual Futures Referencing iEdge CoinDesk Crypto Indices
SGX Derivatives will launch Bitcoin (BTC) and Ether (ETH) perpetual futures contracts on November 24, 2025. These contracts will reference the iEdge CoinDesk Crypto Indices, which provide real-time benchmarks and reference rates for BTC and ETH. The indices publish reference rates daily at 4 p.m. Singapore Time (8 a.m. UTC) and real-time index values every second, 24/7, within a 3–4 p.m. SGT performance window.
The perpetual futures have no expiry date, allowing positions to be held indefinitely. These contracts will be traded onshore with traditional margining and clearing mechanisms. Around the launch date, perpetual futures prices for BTC and ETH were cited at approximately $95,815.25 and $3,204.60 respectively. A funding rate mechanism will be used to keep perpetual futures prices aligned with the underlying market.
This launch seeks to provide institutional investors access to cryptocurrency markets through products that include institutional discipline and established onshore infrastructure. Notable industry participants have welcomed the initiative: DBS Bank highlighted that perpetual futures allow exposure without owning the underlying assets and improve capital efficiency, while OKX Singapore emphasized the growing demand for regional benchmarks and greater transparency for institutional participants.
The move comes amid a broader market context where over two-thirds of cryptocurrency trading occurs through derivatives, with perpetual futures being widely traded globally. Offshore venues handle significant daily volumes in these products, estimated around $187 billion.
