Shares of Coinbase fell by 8% following the news that the Chicago Mercantile Exchange (CME) is considering offering spot bitcoin trading. As a result, share prices dropped to $202.49.

CME, the world’s largest futures exchange, has announced meetings with traders interested in trading bitcoin in a regulated market. This exchange has been designated as a “systemically important financial market utility” in the U.S., implying strict regulatory oversight.

While the cryptocurrency market overall shows growth, the launch of spot exchange-traded funds (ETFs) for bitcoin has provided investors with a safer way to invest in cryptocurrencies, attracting significant funds from both institutional and retail investors.