Breaking: US SEC Gives Nod To First Ever Leveraged Bitcoin ETF
Crypto Market News: The U.S. Securities and Exchange Commission’s (SEC) approval of 2x Bitcoin Strategy ETF, also called BITX, paves way for the Volatility Shares ETF launch on Tuesday, June 27, 2023. This will make the exchange traded fund (ETF) the first ever leveraged crypto ETF to get the SEC’s nod. The Volatility Shares ETF will allow customers to gain exposure to the crypto market with just 50 per cent of Bitcoin price. Meanwhile, the BTC price surpassed the $31,000 mark on Friday, in the context of recent news of Blackrock filing for Bitcoin ETF application with the SEC.
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Apart from Blackrock, Valkyrie Investments and Bitwise also plan to launch their Bitcoin ETF fund. This renewed interest in crypto market from mainstream financial giants led to significant recovery in Bitcoin price.
Volatility Shares 2x Bitcoin Strategy ETF Launch
The Volatility Shares management said that the SEC had not denied its ETF application so far. This essentially leaves the company open to launching the Bitcoin ETF, said Stuart Barton, the company’s chief investment officer. The ETF filing said that the Volatility Shares ETF will link up with CME Bitcoin Futures Daily Roll Index.
Earlier, the Supreme Court agreed with US based crypto exchange Coinbase’s request to allow for arbitration in customer disputes.
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