The ETF will list under the ticker $BITO and will trade on the NYSE Arca exchange. This latest development doesn’t come as a surprise as the SEC Gary Gensler has said on numerous occasions that the regulator prefers approving an ETF that tracks Bitcoin futures.
Are futures-based bitcoin ETFs a good investment?
SEC Chair Gary Gensler indicated he believes futures-based products might provide stronger investor protections due to the laws under which they operate. The SEC has, in the past, explicitly rejected bitcoin ETF applications, but it does not need to formally approve one.
Will bitx be the first leveraged crypto ETF?
Register Now 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.
