Bank of America noted that CME Group is suing its regulator, the Commodity Futures Trading Commission (CFTC), over perpetual futures products, but this dispute could bring unexpected benefits to the derivatives exchange. The bank expects crypto perpetual contract trading volume to reach $93 trillion by 2025, nearly five times the size of the underlying crypto spot market. CME sued the CFTC on June 18, seeking to classify perpetual contracts as swaps rather than futures. Bank of America believes that whether CME wins, loses, or merely delays the regulatory process, it could still be advantageous for the exchange.