Volatility Shares Files For Leveraged Bitcoin Futures Etf

(MENAFN- coinxposure) a provider of cryptocurrency-linked and other exchange-traded funds (etfs) has filed with the u.s. securities and exchange commission (sec) to list shares of a leveraged bitcoin futures etf.

volatility shares trust filed form 8-a with the sec on june 23, indicating that the company was preparing to launch an investment vehicle that the regulator could classify as a security under its purview.

the registration statement listed the volatility shares“2x bitcoin strategy etf” under the ticker symbol bitx.

this etf would provide leveraged exposure to bitcoin equal to two times the daily performance of the s&p cme bitcoin futures daily roll index.

at the time of publication, the sec had not expressly denied volatility shares' application for the cryptocurrency investment vehicle; a leveraged btc futures etf would be the first of its kind in the united states.

volatility shares trust intended to begin trading on june 27, according to its website, but the registration statement“has not yet become effective.”

a separate form n-1a filing with the sec for listing shares of the leveraged bitcoin futures etf on the cboe bzx exchange stated that neither the sec nor the u.s. commodity futures trading commission had“approved or disapproved these securities or passed upon the accuracy or adequacy of this prospectus.”

the sec has a pattern of denying numerous applications for crypto-linked etfs.

“we cannot comment on what the sec may or may not do,” a spokesperson for volatility said. according to sec regulations, we intend to list bitx for trading now that the registration statement has become effective.

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while the u.s. financial regulator has not yet approved a spot cryptocurrency etf, it began allowing btc futures-linked etfs, including those from valkyrie and proshares, in 2021.

valkyrie applied to the sec in may and june, respectively, to list its own leveraged bitcoin futures etf and a spot btc etf.

the filing occurred as the sec was embroiled in litigation against binance and coinbase for alleged unregistered securities offerings.

some u.s. legislators have called for the removal of sec chair gary gensler and his“regulation by enforcement” approach to crypto firms and others.

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