Bitcoin ETFs Surge, CFTC Unveils Oversight Rules, and Crypto PAC Backs 32 House Candidates

U.S. spot Bitcoin ETFs capped a remarkable September with $2.65 billion in net inflows, their second-largest monthly haul since October 2025. An analyst at Zeus Research told The Block that the figures suggest institutional demand has not faded, pointing to a more sustained recovery in Bitcoin markets. Total assets under management across U.S. spot Bitcoin ETF products now stand at $111.07 billion, up from $99.7 billion just one month prior.

Citigroup added to the bullish tone by raising its 12-month Bitcoin price target from $82,000 to $113,000, citing intensified adoption and reinvigorated ETF demand. Bitcoin itself has held firm above $85,000 through the first days of October, posting a 5.25% monthly gain even as the Crypto Fear and Greed Index sits at 67, deep in greed territory. Traders are now watching the Oct. 8 jobless claims report and upcoming Fed commentary for signals on rate direction.

CFTC Proposes Three-Tier Federal Framework for Crypto Markets

On the regulatory front, the U.S. Commodity Futures Trading Commission proposed a sweeping new federal framework for cryptocurrency exchanges offering leveraged digital asset trading, a move designed to bring parts of the spot crypto market under federal oversight. Reuters reported the proposal came weeks after Congress failed to advance comprehensive crypto legislation. The CFTC outlined a three-tier structure in which ordinary spot exchanges would remain subject to state money transmission laws, while platforms offering leveraged or financed crypto trading would fall under direct CFTC supervision, and derivatives venues would remain within existing agency jurisdiction.

Separately, the crypto industry is working to shape the next Congress that will write those rules. CNBC reported that Fairshake and its affiliated super PACs are backing 32 House candidates, 19 Republicans and 13 Democrats, committing at least $6 million across six key races. The spending push follows the Senate's failure to advance the CLARITY Act, the industry's signature market-structure bill, leaving the regulatory future of digital assets unresolved heading into November midterms. Fairshake entered September with roughly $120.4 million in cash across its network, and its preferred candidates have won 53 of 57 primary and special election races this cycle.