Anchorage Digital seeks CFTC swap dealer registration for crypto options
Anchorage Digital applies to become a CFTC swap dealer
Anchorage Digital has applied to register as a swap dealer with the Commodity Futures Trading Commission, or CFTC. The company wants to expand its institutional crypto options business.
The application was filed with the National Futures Association through Anchorage Digital Swap Dealer, LLC. The application is now under review. Options are contracts linked to the price of an asset.
Key points from the application
- The application has been submitted, but registration is not yet approved.
- CEO Nathan McCauley gave no estimate for when the review will finish.
- If approved, the firm expects to offer European-style bitcoin and ether options with maturities of up to one year.
- Anchorage says public companies holding bitcoin and ether have been a major source of growth for its existing options business.
What Anchorage said in its statement
Anchorage shared the statement with The Block. McCauley said the company cannot speculate on timing. He said it will share updates as appropriate.
He said public companies holding bitcoin and ether on their balance sheets have driven much of the growth in the existing options business. Asset managers and funds using options to manage exposure have also contributed, the firm said.
McCauley declined to share specific trading volumes or growth figures. He also declined to explain how Anchorage previously arranged options trades for clients.
What is confirmed and what remains unknown
It is confirmed that the application has been filed and that the National Futures Association has not yet completed its review. It is also confirmed that no timing estimate has been provided.
The source does not confirm when, or whether, registration will be approved. It also does not provide trading volumes, growth figures, or details of past trade arrangements.
Why registration matters for the firm's clients
McCauley said that, once registration is complete, institutional clients could trade digital asset derivatives with a CFTC-registered counterparty. They could do so alongside Anchorage Digital's existing custody and other services.
The firm said the new entity would face CFTC requirements for capital, risk management, and margin. It said this would bring the options business under the same federal framework as other dealers.
Anchorage Digital Bank, N.A. became the first federally chartered digital asset bank in 2021, according to the source. It is regulated by the Office of the Comptroller of the Currency.
What would happen next after approval
If the application is approved, Anchorage Digital Swap Dealer expects to offer European-style options on bitcoin and ether. Maturities would range up to one year.
McCauley said the firm intends to add more products later. Any additions would be subject to its own approval process and regulatory requirements.
Where this report comes from
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.