Volatility Shares, a US-based ETF provider, is preparing to launch the “2x Bitcoin Strategy ETF” (BITX), which will provide leveraged long exposure to the cryptocurrency futures market. The ETF aims to deliver daily investment results that correspond to twice the return of the S&P CME Bitcoin Futures Daily Roll Index by investing in Bitcoin futures contracts traded on the Chicago Mercantile Exchange. While awaiting the outcome of BlackRock’s Bitcoin spot ETF application, the launch of Volatility Shares’ Bitcoin futures ETF marks an innovative development in the US ETF space, as no Bitcoin spot ETFs have been approved to date. Bitcoin’s price stands at $30,677, showing a 2% increase in the last 24 hours and a nearly 17% gain over the past week.
Volatility Shares Set to Launch First US Bitcoin Futures ETF