SEC approves 3x Bitcoin futures ETF listing

Odaily Planet Daily News The U.S. Securities and Exchange Commission (SEC) has approved the Cboe BZX exchange to amend the listing rules to allow the investment management company Volatility Shares LLC to issue a 3x Bitcoin futures ETF and five other leveraged commodity products.

The portfolio also includes a 3x Ethereum ETF, as well as gold, silver, crude oil and natural gas products. The Bitcoin strategy goal is to achieve 3 times the performance of the futures benchmark day. Before deducting fees, a 1% increase in the benchmark corresponds to a target increase of 3%, and a 1% decrease in the benchmark corresponds to a target decrease of 3%.

Related products obtain exposure through futures contracts rather than directly holding Bitcoin. Daily compound interest may cause long-term performance to deviate from the cumulative rise and fall of the benchmark. Product trading must begin after the registration statement becomes effective, with at least 100,000 units issued at the opening of each product, and the net asset value of each unit calculated daily. (Bitcoin.com News)