The investment firm Volatility Shares has announced that its first-ever 2x leveraged Bitcoin futures exchange-traded fund (ETF) will be based on CME Bitcoin Futures prices. This groundbreaking decision has been approved by the U.S. Securities and Exchange Commission (SEC), making the 2x Bitcoin Strategy ETF (BITX) the premier leveraged crypto ETF available in the U.S.
According to Volatility Shares Chief Investment Officer Stuart Barton, the SEC did not oppose the application for the 2x ETF, thereby clearing the path for its launch this upcoming Tuesday. Barton expressed his excitement about integrating digital assets into the ETF environment.
A leveraged 2x ETF is a unique financial product that allows investors to gain Bitcoin exposure by only committing half the value of the Bitcoin. The ETF is expected to correlate with the CME Bitcoin Futures Daily Roll Index, as stated in the prospectus filing.
This development emerges amidst the continuing rise in Bitcoin’s value, surpassing the $30,000 mark after several major conventional investment firms, including BlackRock, applied for spot Bitcoin ETFs with the SEC.
