{"id":21795,"date":"2023-06-23T19:44:54","date_gmt":"2023-06-23T19:44:54","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-soars-as-sec-allows-first-leveraged-bitcoin-futures-etf\/"},"modified":"2023-06-23T19:44:54","modified_gmt":"2023-06-23T19:44:54","slug":"bitcoin-soars-as-sec-allows-first-leveraged-bitcoin-futures-etf","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-soars-as-sec-allows-first-leveraged-bitcoin-futures-etf\/","title":{"rendered":"Bitcoin soars as SEC allows first leveraged Bitcoin Futures ETF"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/06\/1687293519542-c085edcc-ee86-4543-9464-c17b1adada5c-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/06\/1687293519542-c085edcc-ee86-4543-9464-c17b1adada5c-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/06\/1687293519542-c085edcc-ee86-4543-9464-c17b1adada5c-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/06\/1687293519542-c085edcc-ee86-4543-9464-c17b1adada5c-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li dir=\"ltr\">Bitcoin rose to above $31,450 on Friday, its highest level since June 2022.<\/li>\n<li dir=\"ltr\">BTC price spiked to the year-high level after the SEC allowed the Volatility Shares 2x Bitcoin Strategy ETF, or BITX.<\/li>\n<li dir=\"ltr\">This is the first leveraged Bitcoin Futures ETF in the US and comes after this week\u2019s BlackRock-fueled bullish sentiment for the crypto market.<\/li>\n<\/ul>\n<p dir=\"ltr\"><a href=\"https:\/\/coinjournal.net\/bitcoin\/\">Bitcoin<\/a> smashed past the $31,000 level on Friday afternoon as the market reacted to the latest news about the US market\u2019s first leveraged Futures Bitcoin exchange traded fund (ETF).<\/p>\n<p dir=\"ltr\">The upside pushed BTC price to highs of $31,458 on crypto exchange Bitstamp, with the flagship cryptocurrency\u2019s price setting a new year-to-date high and its highest level since June 2022. BTC traded at $31,170 at the time of writing, about 4% higher in the past 24 hours but an impressive 87% up YTD.<\/p>\n<h2 dir=\"ltr\">SEC approves first leveraged Futures Bitcoin ETF<\/h2>\n<p dir=\"ltr\">On Friday, June 23, the US market entered a new chapter in crypto investing when the first leveraged Bitcoin Futures ETF became effective. The Volatility Shares 2x Bitcoin Strategy ETF, or<a href=\"https:\/\/www.volatilityshares.com\/bitx\" rel=\"noopener noreferrer\" target=\"_blank\">\u00a0<u>BITX<\/u><\/a>, will begin trading on Tuesday 27 June and will allow its investors an exposure to Bitcoin with daily returns.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">BREAKING: \ud83c\uddfa\ud83c\uddf8 SEC approves the first  Leveraged <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> Futures ETF to start trading on Tuesday.<\/p>\n<p>\u2014 Bitcoin Archive (@BTC_Archive) <a href=\"https:\/\/twitter.com\/BTC_Archive\/status\/1672282287931633678?ref_src=twsrc%5Etfw\">June 23, 2023<\/a><\/p>\n<\/blockquote>\n<p dir=\"ltr\">Instead of investing directly in Bitcoin, BITX will \u201cseek to benefit from increases in the price of Bitcoin Futures Contracts,\u201d per details of the Fund in the prospectus<a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1884021\/000138713123004119\/btix-485apos_032323.htm\" rel=\"noopener noreferrer\" target=\"_blank\">\u00a0<u>filed<\/u><\/a> with the SEC. The 2x Bitcoin Strategy ETF will align with the CME Bitcoin Futures Daily Roll Index.<\/p>\n<p dir=\"ltr\">Bitcoin has led the market higher over the past week or so, riding on the bullish sentiment triggered by $9 trillion asset manager BlackRock\u2019s filing for a spot Bitcoin ETF. BlackRock has a very high rate of success with ETF applications, the reason for the market\u2019s optimism.\u00a0<\/p>\n<p dir=\"ltr\">Analytics platform IntoTheBlock pointed out what a spot ETF would mean for Bitcoin adoption and price.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udca1 But why is this important? Unlike the Bitcoin futures ETF approved in 2021, a spot ETF would buy actual Bitcoin instead of derivative contracts. This could draw in traditional investors and fuel Bitcoin&#8217;s price.<\/p>\n<p>\u2014 IntoTheBlock (@intotheblock) <a href=\"https:\/\/twitter.com\/intotheblock\/status\/1672208680878592000?ref_src=twsrc%5Etfw\">June 23, 2023<\/a><\/p>\n<\/blockquote>\n<p dir=\"ltr\">Indeed, the asset manager\u2019s filing paved way for a frenzy of spot ETF applications from several other Wall Street giants and global financial institutions. With BTC price in bullish momentum, its likely the market could see many more mega moves by smart money.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/btc-hits-31k-as-sec-approves-first-leveraged-futures-bitcoin-etf\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Bitcoin rose to above $31,450 on Friday, its highest level since June 2022. BTC price spiked to the year-high level after the SEC allowed the Volatility Shares 2x Bitcoin Strategy ETF, or BITX. This is the first leveraged Bitcoin Futures ETF in the [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":21796,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/21795"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=21795"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/21795\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/21796"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=21795"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=21795"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=21795"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}