Bitcoin Surges Above $85,000 as U.S. Regulators Greenlight Leveraged Products
Bitcoin continued its upward trend on Sunday, trading above $85,000 as investors reacted to a new U.S. regulatory development that could increase access to leveraged exposure for the world's largest cryptocurrency.
The U.S. Securities and Exchange Commission (SEC) approved a Cboe BZX rule change on Friday, allowing the exchange to list six triple-leveraged exchange-traded products from Volatility Shares.
The products target three times the daily performance of Bitcoin, Ether, Litecoin, Ethereum Classic, and two other cryptocurrencies, but do not directly hold them. The decision does not mean the products are immediately available for trading; registration requirements must still be completed before shares can be publicly offered.
Regulatory developments aside, signs of stronger industry activity are emerging. CryptoJobsList recorded 1,241 cryptocurrency job openings in September, up from 382 in July, with Finance being the largest category and Bitcoin expertise in high demand.