Bitcoin Futures ETF to launch on Tuesday.

The 2x Bitcoin Strategy ETF (BITX) from Volatility Shares will become the first crypto ETF with leverage that will be available in the United States. This happened after the U.S. Securities and Exchange Commission (SEC) approved its launch on Friday. According to Stuart Barton, the Chief Investment Officer at Volatility Shares, the regulator did not reject the application for the 2x ETF and paved the way for its launch on Tuesday. “It’s exciting to see digital assets in the ETF wrapper,” Barton said.

A 2x leveraged ETF will allow customers to gain exposure to bitcoin by only putting up half the value of the bitcoin. The ETF is expected to correspond with the CME Bitcoin Futures Daily Roll Index, as stated in a prospectus filing.

The rise in bitcoin’s value above $30,000 has caused traditional investment companies like BlackRock to file an application for spot bitcoin ETFs with the SEC. While several futures-based ETF products already trade, the SEC has consistently blocked spot products from launching. Other leveraged bitcoin futures products have also failed to secure the necessary approvals to launch.

This article was edited by Nikhilesh De.