Back
Bitcoin and Ethereum Perpetual Futures on Singapore Exchange Reach $250M Volume

Bitcoin and Ethereum Perpetual Futures on Singapore Exchange Reach $250M Volume

SGX President Michael Syn says institutional interest in BTC and ETH perpetual futures is driven by regulated basis trading, with liquidity building steadily from new market participants.

BTC
ETH

Fact Check
The statement is assessed as likely true with high confidence based on consistent, direct, and credible evidence from multiple sources.1. **Confirmation of Launch**: The first part of the statement, that Bitcoin and Ethereum perpetual futures launched on the Singapore Exchange, is overwhelmingly confirmed. High-authority sources including the official SGX Group's LinkedIn account, a press release from Marex (a clearing firm for the products), and numerous reputable news outlets like CoinDesk, Yahoo Finance, and the Business Times all report the launch.2. **Confirmation of Trading Volume**: The second part of the statement, regarding a trading volume of $35 million, is also strongly supported by high-quality evidence. Reputable financial media outlets CoinDesk and Yahoo Finance explicitly state that the debut day's trading volume was approximately $35 million. The official SGX Group post, being a direct report on the first day of trading, is the most authoritative primary source likely confirming this figure.3. **Consistency and Lack of Contradiction**: There is a high degree of consistency across all relevant sources. While some sources confirm the launch without providing volume data (e.g., Marex) or were published before the launch (e.g., MSN), none of the sources contradict the claims. The key facts are corroborated by both the exchange itself, specialized crypto media, and mainstream financial news, leaving little room for doubt.
Summary

Two weeks after their launch, Singapore Exchange’s Bitcoin and Ethereum perpetual futures have reached $250 million in cumulative trading volume, according to SGX President Michael Syn. Institutions are primarily using the regulated contracts for cash-and-carry arbitrage rather than speculative long positions. Nearly $32 million traded on November 24, the second day after launch, with participation from institutional hedge funds and crypto-native traders. SGX’s regulated framework avoids high-leverage auto-liquidations seen in unregulated markets, focusing on conservative margining to support stable basis trades. Initial liquidity is coming from new capital rather than diverted funds, and SGX aims to make its BTC/ETH perpetuals the benchmark in the Asian time zone.

Terms & Concepts
  • Perpetual Futures: Derivative contracts with no expiration date, enabling continuous exposure to an asset’s price movements.
  • Cash-and-Carry Arbitrage: A strategy where traders buy an asset in the spot market and sell the corresponding futures to profit from the price difference.
  • Basis Trading: A form of arbitrage exploiting the difference between spot and futures prices, often involving simultaneous long and short positions.