The Volatility Shares 2x Bitcoin Strategy ETF (BITX) Now Trading on CBOE
The Volatility Shares 2x Bitcoin Strategy ETF (BITX) opened for trading on the Chicago Board Options Exchange (CBOE) on June 27.
Chang Kim, COO at Volatility Shares, expressed optimism about the product, stating:
“There’s a big audience that’s already out there for leveraged-type products, and to marry that with the interest in all things crypto — that’s why we feel that there’s a good audience for this.”
BITX is the first Bitcoin futures ETF to offer leveraged trading, providing traders with enhanced exposure to Bitcoin price movements. Other Bitcoin futures ETFs available include the ProShares Bitcoin Strategy ETF (BITO) and the VanEck Bitcoin Strategy ETF (XBTF).
Flood of Spot Bitcoin ETF Applications
BlackRock recently filed for a spot Bitcoin ETF on June 15, sparking interest from other asset managers like WisdomTree and Invesco. Despite numerous applications, the Securities Exchange Commission has yet to approve a spot Bitcoin ETF due to concerns about market transparency and price manipulation.
Spot ETFs differ from futures ETFs in their pricing methodology and settlement options, making them a sought-after investment in the crypto market.
For more information on the state of Bitcoin ETFs and cryptocurrency trading, visit CryptoSlate.
