Good News for Bitcoin: ETF Approved, Date Announced!

Amid lawsuits against crypto exchanges, the SEC has approved Volatity Shares’ ETF application. The leveraged Bitcoin ETF “2x Bitcoin Strategy ETF” will likely debut this month.

SEC approves Volatity Shares’ application for leveraged Bitcoin ETF

Volatility Shares Trust filed an application ETF with the SEC on June 23 with Form 8-A. With this move, the company is preparing to launch a securities-class investment vehicle that can be overseen by the regulator. The registration statement listed the “Volatility Shares 2x Bitcoin Strategy ETF” with the symbol BITX. This ETF will offer leveraged positions in Bitcoin, which is twice the daily performance of the S&P CME Bitcoin Futures Daily Roll Index.

June 27 could be the debut date for the ETF

The launch of shares of the Bitcoin investment vehicle will potentially take place on June 27. However, it should be noted that the SEC tends to reject many crypto-related ETF applications. So far, the SEC has not publicly rejected Volatility Shares’ application for a crypto investment vehicle. The leveraged Bitcoin futures ETF will therefore be a first in the US. The website of the Volatility Shares Trust states that the ETF may exit on June 27. However, the registration statement also includes the statement that it has not yet entered into force.

Meanwhile, a separate SEC Form N-1A filing has also been filed to list shares of the leveraged Bitcoin futures ETF on the CBOE BZX Exchange. However, neither the SEC nor the CFTC has given a clear confirmation as of now.

A Volatility Shares spokesperson said, “We cannot comment on what the SEC will do. What we can say is that the registration statement is now valid. In addition, we have planned the listing of BITX for trading in accordance with SEC regulations.”

Ranked on BlackRock, WisdomTree, Valkyrie and Invesco

The US regulator has disallowed a number of spot crypto ETFs since last year. Despite this, companies like Valkyrie and ProShares started allowing BTC ETFs as of 2021. In May and June, Valkyrie filed with the SEC for its leveraged ETFs.

These filings coincide with the SEC’s lawsuits against unregistered securities offerings against crypto exchanges such as Binance and Coinbase. However, companies like BlackRock, WisdomTree, Valkyrie, and Invesco are waiting in line for ETF approval. As we reported as Kriptokoin.com, all applications came in the week of June 19, when SEC cases were on the agenda.

Meanwhile, Santiment data shows that the latest rally coincided with BlackRock’s ETF filing. The news that surfaced last week has created hype in favor of crypto on social media. Bitcoin then surpassed the $31,000 resistance on June 23.