U.S. SEC Approved First Leveraged Bitcoin Futures ETF

1 year ago 66

Listed next Tuesday

US Volatility Shares announced on the 23rd US time that the SEC approved its leveraged bitcoin futures ETF “BITX”.

BITX is the first SEC-approved leveraged bitcoin futures exchange-traded fund (ETF) and is scheduled to go public next Tuesday (27th).

BITX does not invest in physical bitcoin, but operates with double leveraged bitcoin futures. It is based on the CME Bitcoin Futures Daily Roll Index.

In 2021, multiple ETF management companies such as Valkyrie and Direxion also attempted to apply for leveraged Bitcoin ETFs, but initially withdrew their applications due to the SEC pointing out that investor protection rules were not in place. There is a history.

Meanwhile, the SEC approved the Bitcoin futures ETF for the first time in October 2021. Currently, those offered by ProShares and others are traded.

A series of spot-type ETFs

In the United States, applications for similar spot ETFs have been pouring in since BlackRock’s application on the 15th. Valkyrie, Invesco and WisdomTree have filed this week alone. All companies have been unapproved by the SEC in the past, and they are trying again.

connection: Bitcoin spot ETF, 3 new companies apply, re-challenge in response to SEC concerns

The Bitcoin ETF application boom was well received, and not only Bitcoin, but also Bitcoin-related stocks such as BCH and STX rose significantly.