Bitcoin increases because the SEC allows the first cautious Bitcoin futures ETF

• Bitcoin rose to over $ 31,450 on Friday, the highest level since June 2022.
• The BTC Prize rose to the annual high after the SEC had approved the Volatility Shares 2x Bitcoin Strategy ETF (Bitx).
• This is the first levered Bitcoin futures ETF in the United States and follows the optimistic mood for the cryptom market this week.

Bitcoin broke through the $ 31,000 mark on Friday afternoon when the market on the latest news about the first caught stock exchange-traded futures-bitcoin fund (ETF) of the US market reacted.

The upward trend drove the BTC price to a maximum of $ 31,458 on the Bitstamp crypto exchange, whereby the price of the flagship cryptocurrency has reached a new annual high and the highest level since June 2022. BTC was traded at $ 31,170 at the time of the letter, about 4 % higher in the last 24 hours, but has increased by impressive 87 % since the beginning of the year.

SEC approved first cautious futures-bitcoin-ETF

on Friday, June 23, a new chapter of crypto investments began for the US market when the first levered Bitcoin futures ETF came into force. The Volatility Share 2x Bitcoin Strategy ETF, or Bitx will start on Tuesday, June 27th and his investors will be involved in bitcoin on Tuesday, June 27th enable daily returns.

breaking: 🇺🇸 sec approves the first leveraged 23. June 2023

instead of investing directly in Bitcoin, Bitx will "try to benefit from price increases in Bitcoin futures contracts", according to the information of the fund in the prospectus stored with the sec. The 2x Bitcoin Strategy ETF will be based on CME Bitcoin Futures Daily Roll Index.

Bitcoin has led the market up in the last week or so, based on the optimistic mood, which was triggered by the application of the asset manager BlackRock worth $ 9 trillion for a spot bitcoin ETF. Blackrock has a very high success rate for ETF applications, which justifies market optimism.

The analysis platform Intothblock pointed out what a spot ETF would mean for the acceptance and price of Bitcoin.

💡 But why is that important? In contrast to the Bitcoin futures ETF approved in 2021, a spot-ETF would buy real Bitcoin instead of derivative contracts. This could attract traditional investors and boost the price of Bitcoin.

- Intotheblock (@intotheblock) 23. June 2023

In fact, the asset manager's application paved the way for a flood of spot ETF applications by several other Wall Street giant and global financial institutions. Since the BTC Prize is in the upward trend, it is likely that the market will experience many other mega movements through intelligent money.