Singapore Exchange to launch bitcoin and ether perpetual futures

Set to launch on November 24, the trading will be available to accredited and institutional investors, SGX said in a statement.

Perpetual futures are derivatives that allow traders to bet on asset prices without an expiry date and offer round-the-clock access and high leverage, making them a popular choice in fast-moving markets.

Investors and traders typically use derivatives to hedge risk, amplify returns or speculate on price movements without owning the underlying asset.

Crypto assets were on a tear for much of this year, buoyed by hopes of greater regulatory easing and clarity globally and renewed risk appetite.

Bitcoin reached a record high in October, but its rally has since stalled owing to dampened risk appetite as investors worry about the outlook for Federal Reserve rate cuts and a weakening U.S. economy.