Singapore Exchange ( SGX )’s Derivatives will launch on November 24 bitcoin and ethereum perpetual futures, in a move, the SGX says, will “deliver a major shift in institutional-grade crypto market structure”.

The contracts will provide round-the-clock exposure to the world’s two most traded digital assets, while, the exchange adds, “integrating the safeguards, transparency, and discipline of exchange-cleared markets”.

Unlike conventional futures, perpetuals have no expiry and are the default trading vehicle in crypto derivatives, accounting for over US$187 billion in daily volume globally.

Until now, most of this activity has remained offshore, in lightly regulated venues. SGX Derivatives’ entry marks the first time these instruments will be available in Asia via a traditional financial exchange.

The move was a “logical and deliberate step”, says Michael Syn, SGX Group president, as institutional allocations to digital assets grow. “We are applying the same rigour that underpins global markets to crypto’s most traded pay-off.”

The contracts will be benchmarked to the iEdge CoinDesk Crypto Indices and settled within SGX’s established clearinghouse framework. Institutional, accredited and expert investors will be eligible to participate, addressing a longstanding gap between crypto’s market scale and its institutional accessibility.

The launch, SGX notes, has drawn encouraging feedback from market participants who view this as a timely and strategic step in advancing access to crypto markets that are now seen as increasingly mainstream.

“Crypto perpetuals offer institutional traders enhanced precision and capital efficiency when managing their digital asset portfolios as compared to spot trading,” adds Patrick Yeo, DBS Bank’s head of digital assets for global financial markets. “In addition, clearing and margining these derivatives under the same standards as traditional instruments paves the way for broader adoption, and marks a new milestone in the growing maturation of the digital asset ecosystem.”