Volatility Shares Trust targets listing of leveraged Bitcoin futures ETFs

[ad_1]

A company behind the provision of cryptocurrency-related funds and other exchange-traded funds (ETFs) has filed with the United States Securities and Exchange Commission (SEC) for the listing of shares in a leveraged Bitcoin futures ETF.

Volatility Shares Trust filed Form 8-A with the SEC on June 23, suggesting the company was preparing to launch an investment vehicle that the regulator might consider a class of securities under its jurisdiction. The registration statement mentioned the Volatility Shares 2x Bitcoin Strategy ETF” under the ticker symbol BITX, which would provide leveraged exposure to Bitcoin (BTC) equal to twice the daily performance of the S&P CME Bitcoin Futures Daily Roll Index. .

As of press time, the SEC had not explicitly denied volatility stock demand for the crypto investment vehicle, a leveraged BTC futures ETF would be the first of its kind in the United States. The Volatility Shares Trusts website said it planned to start trading on June 27, but added that the registration statement had not yet become effective.

A separately filed SEC Form N-1A for the listing of leveraged Bitcoin futures ETF shares on the CBOE BZX Exchange said that neither the SEC nor the U.S. Commodity Futures Trading Commission had approved or disapproved of such securities or issued on the accuracy or adequacy of this prospectus. The SEC has a history of turning down many crypto-related ETF applications.

Related: BlackRock Applying for Spot Bitcoin ETF, a First in the U.S. If Approved

Although the US financial regulator has not approved any spot crypto ETFs, it has started allowing ETFs linked to BTC futures from 2021, including those from Valkyrie and ProShares. In May and June, respectively, Valkyrie applied to the SEC to list its own leveraged Bitcoin futures ETF as well as a spot BTC ETF.

The filing came as the SEC was engaged in lawsuits against crypto exchanges Binance and Coinbase over alleged unregistered securities offerings. Some U.S. lawmakers have called for the removal of SEC Chairman Gary Gensler and his perceived approach to law enforcement regulation of crypto firms and others.

Magazine: Gary Genslers Jobs at Risk, BlackRocks First Place Bitcoin ETF and Other News: Hodlers Digest, June 11-17

[ad_2]