The Securities and Exchange Commission (SEC) of the United States has approved Volatility Shares’s 2x Bitcoin Strategy ETF.
The approval of 2x Bitcoin Strategy ETF, also known as BITX, by the U.S. Securities and Exchange Commission (SEC) paves the way for the launch of the Volatility Shares ETF on Tuesday, June 27, 2023.
This will make the exchange-traded fund (ETF) the first leveraged cryptocurrency ETF ever approved by the SEC. The Volatility Shares ETF will enable investors to acquire exposure to the cryptocurrency market with only fifty percent of the price of Bitcoin.
Meanwhile, the BTC price surpassed $31,000 on Friday in light of recent news that Blackrock has filed an ETF application for Bitcoin with the SEC.
In addition to Blackrock, Valkyrie Investments and Bitwise intend to establish Bitcoin exchange-traded funds. This renewed interest in the cryptocurrency market from traditional financial titans led to a significant Bitcoin price recovery.
Launch of Volatility Shares 2x Bitcoin Strategy ETF
The management of The Volatility Shares reported that the SEC had yet to deny its ETF application. This opens the door for the company to introduce the Bitcoin ETF, according to Stuart Barton, the company’s chief investment officer.
According to the ETF filing, volatility Shares ETF will be linked to the CME Bitcoin Futures Daily Roll Index. Before this, the Supreme Court granted Coinbase’s request to arbitrate consumer disputes.
