Levered Bitcoin ETF Makes Long-Shot Bid at SEC as Crypto Rallies
- BI analyst Psarofagis says the ETF is unlikely to win approval
- Derivatives-based crypto ETF filings had been rejected in past
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An exchange-traded funds issuer is trying its hand at a levered Bitcoin futures product as digital assets attempt to stage a recovery following last year’s brutal flops.
The 2x Bitcoin Strategy ETF by Volatility Shares would seek to double the performance of the S&P CME Bitcoin Futures Daily Roll Index each day, according to a filing. The fund would carry an overall expense ratio of 1.89% and would trade under the ticker BITX.