A new exchange-traded fund (ETF) backed by Bitcoin (BTC) futures and with 2x leverage is set to go live on Tuesday after the Securities and Exchange Commission (SEC) appears to have given the greenlight.
The ETF, sponsored by Volatility Shares Trust, will be listed on the CBOE BZX Exchange under the ticker BITX, according to an SEC filing.
The filing further explained that the fund “seeks investment results that correspond to two times (2x) the return of the Chicago Mercantile Exchange (CME) Bitcoin Futures Daily Roll Index.”
News that the ETF is set to go live was shared on Twitter by Bloomberg’s senior ETF analyst Eric Balchunas, who said he was originally “doubtful it would happen,” before adding that it now “looks like it’s official.”
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