Bitcoin (BTC) and Ether (ETH) Perps Are Building Liquidity Incrementally: SGX's Syn
SGX's new Bitcoin and Ether perpetual futures are attracting new liquidity, primarily from institutional basis traders, not diverting existing funds.Summary
Michael Syn, president of the Singapore Exchange (SGX), stated that the exchange's recently launched Bitcoin and Ether perpetual futures are successfully building incremental liquidity, representing new money entering the system rather than cash diverted from other exchanges or investments. The products have seen cumulative trading reach $250 million since their debut. Syn emphasized that institutional interest is focused on basis trading—buying spot assets or ETFs and hedging with futures—rather than outright bullish bets. SGX aims for these contracts to become the benchmark for Asian trading hours. Unlike decentralized platforms, SGX's regulated futures employ conservative margin requirements and avoid high-leverage auto-liquidations, offering a trusted venue for these arbitrage strategies. The immediate priority remains building trust in the BTC and ETH perps before considering expansion into options or other altcoin derivatives.
(Source：CoinDesk)