According to the source, a claim is circulating that the CFTC has approved U.S. spot crypto trading; traders should verify any such change only via an official CFTC order or a Federal Register notice before repositioning in BTC or ETH. Source: cftc.gov; federalregister.gov. The CFTC’s current mandate covers crypto derivatives (futures and swaps) and anti-fraud/manipulation authority in spot commodity markets, but it does not license or approve spot trading venues; any expansion of authority would be visible through formal orders or legislation. Source: cftc.gov/LabCFTC/primers-and-papers (A CFTC Primer on Virtual Currencies); cftc.gov/PressRoom/SpeechesTestimony. For market context, the SEC—not the CFTC—approved U.S. spot Bitcoin ETPs in Jan 2024, which broadened securities-market access without creating CFTC-regulated spot exchanges; confirmability of any new CFTC action is therefore critical to avoid trading on rumors. Source: sec.gov (Spot Bitcoin ETP approval orders, January 2024). For confirmation flow and positioning, monitor CME BTC and ETH futures basis and open interest as institutional participation proxies alongside any official CFTC publication. Source: cmegroup.com/markets/cryptocurrencies.

According to @CoinMarketCap, CME Group’s cryptocurrency futures and options suite hit an all-time daily volume record of 794,903 contracts on Friday, signaling accelerating demand for regulated crypto risk management tools amid ongoing market uncertainty. Source: @CoinMarketCap. CME lists Bitcoin BTC and Ether ETH futures and options, including standard and micro contracts, which are widely used by institutions in U.S.-regulated markets. Source: CME Group. Contract totals include micro products, so notional volume can differ from contract counts; Micro Bitcoin MBT is 0.1 BTC per contract and Micro Ether MET is 0.1 ETH per contract. Source: CME Group.

According to the source, stablecoins now account for over 1 percent of U.S. M2 money supply, signaling a larger on-chain dollar base that can affect BTC and ETH liquidity, spot volumes, and futures basis. Source: Federal Reserve H.6 statistical release for M2; CoinMarketCap and DeFiLlama for aggregate stablecoin market capitalization. Traders should validate the 1 percent ratio by dividing total stablecoin market cap by the latest M2 and monitor USDT and USDC net issuance as a leading indicator of crypto risk appetite and order-book depth. Source: Tether Transparency; Circle monthly reserve attestations; CoinMarketCap and DeFiLlama. Positioning implications include watching CME Bitcoin and Ether basis, open interest, and funding rates for confirmation when stablecoin float expands, as this has coincided with tighter basis and greater spot depth in prior cycles. Source: CME Group futures data; Kaiko market liquidity metrics.