According to the source, the U.S. Office of the Comptroller of the Currency announced on Dec 10, 2025 that banks can operate as intermediaries on crypto transactions and may engage in riskless principal transactions that involve crypto assets. According to the source, traders should watch BTC and ETH USD spot liquidity, OTC spreads, and the spot-futures basis on U.S.-regulated venues such as CME for signs of changing market depth as banks begin intermediation. According to the source, monitoring on-chain stablecoin USD flows and any bank-affiliated trading venues for execution quality and slippage around large orders is advisable in the near term.