Anchorage Digital files for CFTC swap dealer registration for crypto options

Anchorage Digital has filed an application with the National Futures Association on November 5, 2026, to register its entity Anchorage Digital Swap Dealer, LLC as a Commodity Futures Trading Commission swap dealer. The move aims to expand its institutional options offering to include European-style bitcoin and ether options with maturities up to one year. If approved, the federal registration would subject the firm to CFTC capital, risk management, and reporting rules.

Registration details and proposed options products

• ▪Anchorage Digital submitted an application to the National Futures Association to register Anchorage Digital Swap Dealer, LLC, as a CFTC swap dealer
• ▪Anchorage Digital Swap Dealer, LLC expects to offer European-style options on bitcoin and ether with maturities up to one year if its Commodity Futures Trading Commission swap dealer registration is approved

Swap dealer regulatory framework

• ▪Anchorage Digital said Commodity Futures Trading Commission swap dealer requirements follow the same regulatory framework that the Dodd-Frank Act applied to banks for interest rate, credit, and foreign exchange markets
• ▪Commodity Futures Trading Commission swap dealer registration requires an entity to meet regulatory obligations covering capital, risk management, reporting, and compliance frameworks, alongside a $15,000 non-refundable application fee

Anchorage Digital business services

• ▪Anchorage Digital added collateral management with automated margin calls to its Atlas platform in March and acquired Securitize's wealth management unit in December to serve registered investment advisors
• ▪Anchorage Digital offers trading and margin capabilities, along with options and structured products, through its separate subsidiary Anchorage Hold, LLC

Regulatory history and charter status

• ▪Anchorage Digital Bank N.A. became the first crypto-focused firm to obtain a federal national bank charter from the Office of the Comptroller of the Currency in January 2021, and also holds a New York BitLicense
• ▪The Office of the Comptroller of the Currency issued a consent order against Anchorage Digital in 2022 regarding anti-money laundering and compliance issues, which was lifted in 2025 following compliance infrastructure investments