SEC Approves First Leveraged Bitcoin Futures ETF in the United States Amidst Rising Bitcoin Prices

The US Securities and Exchange Commission (SEC) has approved the first leveraged Bitcoin Futures Exchange-Traded Fund (ETF). The ETF, offered by Volatility Shares, will become available for trading in the United States on Tuesday. This approval follows similar developments in the cryptocurrency sector, including BlackRock’s plan for Bitcoin Spot ETFs. While the SEC has been cracking down on cryptocurrency exchanges like Coinbase and Binance, it has given the green light to this new crypto offering.

The 2x leveraged Bitcoin Strategy ETF with ticker BITX is expected to launch on June 26, 2023, and may be correlated with the CME Bitcoin Futures Daily Roll Index. The approval comes as Bitcoin’s price has been rising, surpassing the $30,000 mark. Although a futures ETF has been approved, there is still uncertainty about whether the SEC will approve Bitcoin spot trading offerings.