The U.S. Commodity Futures Trading Commission (CFTC) announced that listed spot cryptocurrency products, including Bitcoin, can now trade for the first time on federally regulated, CFTC-registered futures exchanges.
This marks a pivotal shift, allowing direct spot trading, buying and selling actual crypto assets on platforms like Designated Contract Markets (DCMs) under full U.S. oversight, rather than relying on offshore or lightly regulated venues.
The move aims to enhance market integrity, customer protections, and access for both retail and institutional traders while positioning the U.S. as the “crypto capital of the world.”
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Applies to spot contracts for commodities like Bitcoin and Ethereum. Exchanges can offer both leveraged and non-leveraged spot trading, alongside futures, options, and perpetuals on a single platform.
Bitnomial, Inc., a Chicago-based derivatives exchange, is set to launch as the inaugural venue on December 8, 2025. It will provide portfolio margining across asset classes to reduce redundant requirements and meet CFTC standards for surveillance, clearing, and reporting.
Bitnomial is gearing up for its historic launch of leveraged retail spot crypto trading on December 8, 2025, following the CFTC’s approval for spot products on registered exchanges. This integrates spot trading seamlessly with its existing derivatives suite, emphasizing capital efficiency and transparency.
Bitnomial offers a unified platform for both retail and institutional traders, combining spot and derivatives in one venue to optimize liquidity and reduce fragmentation. Newly approved leveraged spot crypto (up to 6x leverage), enabling direct buying/selling of assets like Bitcoin (BTC) and Ethereum (ETH) under CFTC rules.
This is the first U.S.-regulated spot crypto exchange, with non-leveraged and margined options available. First U.S.-regulated perpetuals with 8-hour funding rates; supports crypto settlement and no expiration.
Delivers actual digital assets at expiration includes industry-first futures on XRP, SOL, ETH, USDC, and more through the Crypto Complex®. European-style options on BTC, ETH, and others, with physical delivery. Custom event contracts for hedging and speculation.
All products trade on a single interface via the Botanical platform, allowing cross-product strategies like portfolio hedging. Bitcoin (BTC) and Bitcoin-related (e.g., Hashrate futures); Ethereum (ETH), Solana (SOL), XRP (first U.S. futures on XRP), Cardano (ADA), USD Coin (USDC), and expanding Crypto Complex® assets.
Full CFTC registration ensures anti-manipulation surveillance, mandatory clearing, and reporting. Open to U.S. persons and global users— subject to local laws; no preferential treatment—retail and institutional orders get equal execution under DCM rules no dark pools or asymmetric info.
Broker intermediation eliminates counterparty risk; low fees as low as 0.002% maker/taker; tax advantages like blended 60/40 long-term/short-term capital gains on eligible trades. Substantial risk disclosures emphasize leverage’s potential for losses exceeding initial deposits.
Bitnomial’s model positions it as a bridge between TradFi and crypto, fostering innovation under strict rules. Trading involves high risks—leverage can amplify losses.
CFTC Chair Caroline D. Pham emphasized using the agency’s existing authority from the 1974 Commodity Exchange Act to enable this, avoiding past “regulation by enforcement” that led to fines without safe trading options.
This follows the President’s Working Group on Digital Asset Markets recommendations and joint CFTC-SEC guidance clarifying jurisdictional lines. Recent offshore exchange failures highlighted the need for domestic safeguards against manipulation, volatility, and customer losses.
Pham noted: “Spot crypto can trade on CFTC-registered exchanges that have been the gold standard for nearly a hundred years, with the customer protections and market integrity that Americans deserve.”
Crypto communities on X are buzzing with optimism, viewing this as the end of “offshore dominance” and a boost for onshore liquidity. Posts highlight it as a “Golden Age of Innovation” under the Trump Administration, with expectations of institutional inflows and tighter spreads.
This doesn’t eliminate crypto’s inherent risks like price swings, but it introduces anti-manipulation rules and tokenized collateral like stablecoins for derivatives. Future steps include blockchain integration for clearing and settlements.
Offshore platforms remain unregulated for U.S. users, but this could draw giants like CME Group to expand spot offerings. As of December 5, 2025, Bitcoin is hovering around $92,000, up slightly amid the news, though broader market volatility persists.
This approval doesn’t cover all crypto, security tokens stay with the SEC and requires exchanges to obtain specific CFTC registration. If you’re trading, remember: This is high-risk—do your own research and consider regulated platforms only.