4E: CFTC plans to allow spot cryptocurrency trading on futures exchanges, ETH demand surges

ChainCatcher News: On August 5, the U.S. Commodity Futures Trading Commission (CFTC) stated that it is considering allowing registered futures exchanges to conduct spot cryptocurrency trading and has invited market participants to provide feedback. CFTC Acting Chair Caroline Pham noted that this initiative aims to enhance regulatory clarity, responding to the Trump administration's Digital Asset Market Working Group report, and is also part of the SEC's "crypto project" initiative.

The U.S. Treasury Department announced it will auction $100 billion in four-week Treasury bills, marking a historic high. The Treasury Borrowing Advisory Committee pointed out that as stablecoin issuers are required to back their crypto tokens with assets like Treasury securities, stablecoins have become an emerging source of demand for Treasury bills.

On-chain data shows that Bitcoin has found support at the critical level of $112,000, with a short-term rebound target potentially reaching $124,000. Currently, the main resistance range is between $117,000 and $118,000; if it cannot break through, it may retreat to $112,000.

In July, Ethereum demand reached 3 million coins, primarily driven by ETF products and institutional holdings. BlackRock accounted for 78% of ETF inflows, while BitMNR and SharpLink Gaming accounted for 41% and 16% of institutional inflows, respectively. The options market shows mixed trading sentiment, with traders focusing on the key price ranges of ETH at $3,582 and $4,000.

4E reminds investors: Current regulatory and macro policy changes are frequent, and it is advisable for investors to closely monitor policy dynamics, manage risk effectively, allocate assets reasonably, and maintain the flexibility to respond to market fluctuations.