5-8-2025 – The U.S. Commodity Futures Trading Commission is examining whether to permit registered futures trading platforms to list leveraged digital assets including Bitcoin and Ethereum, potentially expanding crypto trading options for institutional investors.
CFTC Acting Chair Caroline Pham indicated the commission could implement a “clear and straightforward solution” by utilizing its exemption authority to allow certain companies to operate outside current regulations. Existing rules restrict futures trading platforms to listing only derivative products, but the proposed change would enable spot contract trading of cryptocurrencies with leverage on regulated exchanges.
The development builds on Pham’s March column that outlined potential regulatory pathways for expanded crypto trading. Such a framework could provide institutional traders with regulated access to leveraged cryptocurrency positions while maintaining oversight through existing futures market infrastructure. The move would represent a significant expansion of crypto trading capabilities within the traditional regulatory framework.
