HomeNewsBREAKING: SEC Grants Approval for First-Ever Leveraged Bitcoin Futures ETF - Anticipation...

BREAKING: SEC Grants Approval for First-Ever Leveraged Bitcoin Futures ETF – Anticipation Grows for Potential Surge to $100,000 Bitcoin Price

- Advertisement -
  • The U.S. Securities and Exchange Commission (SEC) approves the first-ever leveraged Bitcoin Futures ETF, paving the way for it to start trading on the Chicago Board Options (CBOE) BZX Exchange.
  • The ETF product’s approval sparks optimism in the crypto community, despite the SEC’s recent lawsuits against major crypto exchanges like Coinbase and Binance.

The world of cryptocurrencies just witnessed a watershed moment with the U.S. Securities and Exchange Commission (SEC) approving the first-ever leveraged Bitcoin Futures Exchange-Traded Fund (ETF) named “2x Bitcoin Strategy ETF (BITX)”. Volatility Shares, the firm behind BITX, is gearing up to list the pioneering Bitcoin derivative on the Chicago Board Options (CBOE) BZX Exchange on June 27, 2023.

As a refresher, an ETF is an investment vehicle that emulates the performance of a particular asset or group of assets. The newly approved BITX ETF, with its unique leveraged approach, seeks to generate investment returns equivalent to twice the yield of the CME Bitcoin Futures Daily Roll Index. Thus, institutional investors can speculate on the largest cryptocurrency’s price movement with a doubled lever. It’s a sophisticated product that enables exposure to Bitcoin’s price fluctuations without the need for direct ownership of the asset.

- Advertisement -

The approval of this innovative financial instrument has stirred enthusiasm among cryptocurrency proponents, although it has raised questions about the SEC’s decision to endorse a leveraged futures ETF prior to a seemingly less risky spot ETF.

In the backdrop of this landmark approval, several traditional financial institutions are eyeing the lucrative crypto market, with the world’s largest asset management firm, BlackRock, leading the charge. With $10 trillion in assets under management, BlackRock’s recent application to launch a Bitcoin Spot ETF has been a beacon of hope for the crypto sector. The approval of BITX is seen as a positive omen for the future acceptance of BlackRock’s proposal.

>> Buy Bitcoin quickly and securely with PayPal, credit card or bank transfer at eToro with low fees and deposit protection. Get started with BTC now. Visit Website <<

- Advertisement -

Despite these optimistic developments, the SEC’s regulatory activities have painted a mixed picture. Its recent lawsuits against major crypto exchanges like Coinbase and Binance have sent ripples across the altcoin markets, with the regulator classifying numerous altcoins as securities. The contrasting regulatory moves of the SEC leave the future impacts on the broader crypto market unclear.

Interestingly, amidst this regulatory uncertainty, Bitcoin’s price has been enjoying a positive run. At the time of writing, Bitcoin was trading at $30,690.44, registering a significant rise following BlackRock’s announcement. However, a noticeable slowdown in Bitcoin transaction velocity was observed, indicating a potential decrease in trading activity as investors hold on to their BTC in anticipation of further developments.


Best Crypto Exchange for Everyone:

  • Invest in Bitcoin (BTC) and 70+ cryptocurrencies and 3,000+ other assets.
  • 0% commission on stocks – buy in bulk or just a fraction from as little as $10.
  • Copy top-performing traders in real time, automatically.
  • Regulated by financial authorities including FAC and FINRA.

2.8 Million Users

Get Started


- Advertisement -
ETHNews does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. ETHNews is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.
Brian Johnson
Brian Johnson
A dedicated Bitcoin journalist passionate about uncovering the latest trends, developments, and innovations in the world of cryptocurrency, while delivering engaging and well-researched articles to inform and educate readers on the dynamic digital finance landscape.
- Advertisment -spot_img