First Bitcoin ETF Approved By The Securities And Exchange Commission With EVERAGE

(CTN News) – Taking into consideration the fact that the Volatility Shares ETF is scheduled to launch on Tuesday, June 27, 2023, the It has been announced that the Securities and Exchange Commission has approved the launch of the 2x Bitcoin Strategy ETF, also known as BITX.

This approval paves the way for the launch of the 2x Bitcoin Strategy ETF. Consequently, the exchange traded fund (ETF) will become the first leveraged crypto exchange traded fund to ever receive SEC approval.

The Volatility Shares will allow customers to gain exposure to the crypto market for just 50 percent of the price of Bitcoin when they purchase the ETF.

During the same time period, the Bitcoin price soared above the $31,000 mark on Friday, following recent news that Blackrock filed an application with the SEC for an ETF based on Bitcoin.

As well as Blackrock, Valkyrie Investments and Bitwise plan to launch their own Bitcoin  funds within the next few months. In response to this renewed interest from mainstream financial giants in the crypto market, the price of bitcoin has experienced a significant recovery.

A new ETF that tracks the volatility of bitcoin has been launched by volatility shares

Volatility Shares management said that the SEC has not yet denied Volatility Shares’ application for an exchange traded fund. It seems that the company would be open to launching an for Bitcoin at some point in the future, according to Stuart Barton, the company’s chief investment officer.

It was stated in the ETF filing that Volatility Shares will be linked to the CME Bitcoin Futures Daily Roll Index in order to track the price of bitcoin.

In an earlier decision, the Supreme Court agreed to allow arbitration in disputes between customers and US based crypto exchange Coinbase, which is based in New York.

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