- The CFTC is launching regulated leveraged spot crypto trading, starting with Bitnomial next week.
- Caroline Pham called it a “historic milestone” and part of Trump’s pro-crypto agenda.
- Leveraged spot markets will now operate under DCM rules, giving retail and institutional traders equal access.
The U.S. Commodity Futures Trading Commission (CFTC) is officially rolling out leveraged spot crypto trading under federal oversight — a milestone tied directly to President Donald Trump’s push for pro-crypto policy reforms. The first platform to go live will be Bitnomial, with trading set to begin next week, marking the first time spot Bitcoin and other digital assets can be traded with leverage on a fully regulated U.S. exchange.
A “Historic Milestone” for U.S. Crypto Traders
Acting CFTC Chair Caroline Pham announced the move, describing it as a major breakthrough for investor protection and market integrity.
Pham emphasized the need for safe, domestic, regulated venues, especially following a series of collapses and scandals involving offshore crypto exchanges:
“Now, for the first time ever, spot crypto can trade on CFTC-registered exchanges… with the customer protections and market integrity that Americans deserve.”
The launch reflects recommendations from the President’s Working Group on Digital Asset Markets, and represents one of the first completed action items from the CFTC’s “crypto sprint,” an accelerated program to implement the Trump administration’s crypto agenda.
Bitnomial Leads the Rollout — With Equal Access for Retail and Institutions
Bitnomial, regulated as a Designated Contract Market (DCM), confirmed that leveraged spot trading will go live next week.
Founder Luke Hoersten highlighted the significance:
“Leveraged spot crypto trading is now available under the same regulatory framework as U.S. perpetuals, futures, and options.”
Launching under DCM rules ensures:
• Equal treatment of retail and institutional orders
• No preferential routing
• No information advantages
• Transparent, regulated liquidity
This places leveraged spot activity on the same footing as other long-regulated derivatives products — a major shift for the U.S. crypto landscape.
A Push Toward Broad Crypto Market Reform
The CFTC’s move comes as Congress debates giving the agency full authority to supervise the entire spot crypto market. Currently, major assets like Bitcoin are classified as commodities, but the CFTC’s oversight is limited mostly to fraud, manipulation, and derivatives.
Pham has long argued that the agency already had enough authority to permit leveraged spot activity within its own exchange framework, even if broader legislation remains in limbo.
In addition to leveraged spot trading, upcoming CFTC initiatives include:
• Tokenized collateral standards, including stablecoins (expected early next year)
• Blockchain-integrated rulemaking across derivatives markets
• Continued expansion of crypto-native DCMs (Coinbase, Kalshi, Polymarket)
Leadership Shakeup on the Horizon
The announcement comes as Pham prepares to step down once Trump’s nominee — Mike Selig — is confirmed as the next CFTC chairman. With no additional commissioners nominated yet, Selig may temporarily lead the agency alone, overseeing the next phase of the U.S.’s crypto regulatory transformation.
A New Regulated Arena for Crypto in the U.S.
With leveraged spot trading officially going live under CFTC jurisdiction, the U.S. is entering a new era of regulated crypto markets — one that blends traditional finance standards with digital-asset innovation. Bitnomial’s launch next week will serve as the first test of how traders respond to this long-requested, federally supervised trading environment.
