4E: CFTC Plans to Allow Spot Cryptocurrency Trading on Futures Exchanges, Surge in ETH Demand

【4E: CFTC Plans to Allow Spot Cryptocurrency Trading on Futures Exchanges, Surge in ETH Demand】On August 6, news reported that the U.S. Commodity Futures Trading Commission (CFTC) stated on August 5 that it is considering permitting registered futures exchanges to conduct spot cryptocurrency trading and is inviting market participants to provide feedback. CFTC Acting Chair Caroline Pham noted that this initiative aims to enhance regulatory clarity and is a response to the Trump administration's Digital Asset Market Working Group report, as well as being part of the SEC's promoted "crypto project" plan. The U.S. Treasury Department announced it will auction $100 billion in four-week Treasury bills, marking a historic high in scale. The Treasury Borrowing Advisory Committee pointed out that as stablecoin issuers are required to back cryptocurrencies with assets such as Treasury securities, stablecoins have become an emerging source of demand for Treasury bills. On-chain data shows that Bitcoin has gained support at the critical level of $112,000, with a potential short-term rebound target reaching $124,000. Currently, the main resistance range is between $117,000 and $118,000; if it cannot break through, it may retract to $112,000. In July, Ethereum demand reached 3 million units, primarily driven by ETF products and institutional holdings. BlackRock accounted for 78% of ETF inflows, while BitMNR and SharpLink Gaming represented 41% and 16% of institutional inflows, respectively. The options market trading sentiment is divergent, with traders focusing on the key price ranges of ETH at $3,582 and $4,000. 4E reminds investors: Currently, regulatory and macro policy changes are frequent; investors are advised to closely monitor policy dynamics, effectively manage risks, allocate assets reasonably, and maintain the ability to respond flexibly to market fluctuations.