The SEC has approved the leveraged bitcoin futures ETF in the United States

Information reaching Kossyderrickent has it that The SEC has approved the leveraged bitcoin futures ETF in the United States. 

Information reads: “THE SEC HAS APPROVED THE 

LEVERAGED BITCOIN FUTURES ETF

IN THE UNITED STATES. 

BITCOIN SPOT ETF COMING SOON?” 

Volatility Shares’ 2x Bitcoin Strategy ETF (BITX) will become the first leveraged crypto ETF available in the United States after the U.S. Securities and Exchange Commission (SEC) let it go effective on Friday, an executive at the company told CoinDesk.

The regulator has not denied the application for the 2x ETF, Volatility Shares Chief Investment Officer Stuart Barton said, paving the way for its launch this upcoming Tuesday.

“It’s exciting to see digital assets in the ETF wrapper,” Barton said.

The cryptocurrency sector in the United States has seen its fair share of concern in recent weeks. The SEC has firmly embraced enforcement against two of the largest cryptocurrency exchanges in the market, Coinbase and Binance. However, they have now green-lit the arrival of a new crypto offering in the country.

Specifically, the SEC has approved its first leveraged Bitcoin futures ETF, according to a new report from Coindesk. Indeed, the approval has seen Volatility Shares set to begin operations on the first leveraged crypto ETF in the United States. A leveraged 2x ETF allows customers to gain bitcoin exposure by only putting up half the value of the bitcoin.

A prospectus filing said the ETF would correspond with the CME Bitcoin Futures Daily Roll Index.

This comes in the wake up of bitcoin’s value steadily rising past $30,000 after multiple major traditional investment companies like BlackRock filed an application for spot bitcoin ETFs with the SEC.

The prospectus filing confirms that the 2x Bitcoin Futures ETF is set to begin operation on June 26, 2023. Moreover, the filing stated that the ETF could correlate with the CME Bitcoin Futures Daily Roll Index. 

The decision has arrived as Bitcoin has seen its price increase over the last few weeks. Culminating in price action above the $30,000 mark, a development that was likely aided by the news of BlackRock’s ETF plans. Additionally, with the approval of a futures ETF, there is still a concern as to whether the regulator would approve Bitcoin spot trading offerings.