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SEC Approves First Ever Leveraged Bitcoin Futures ETF

The US Securities and Exchange Commission (SEC) has approved the first leveraged Bitcoin futures exchange-traded fund (ETF), Volatility Shares 2X Bitcoin Strategy ETF (BITX). It is scheduled to launch on the Chicago Board Options BZX Exchange on 27 June, 2023. The fund looks for investment returns that are equivalent to double the return of the CME Bitcoin Futures Daily Roll Index. Investors can purchase shares of an ETF, which bundles securities like equities and commodities, to receive exposure to those securities without actually owning them. The BITX fund was approved by the SEC as large traditional financial institutions look to enter the cryptocurrency market recently.

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