Golden Cross for BlackRock's Bitcoin ETF as SEC OKs Triple-Leveraged Crypto Funds

BlackRock's iShares Bitcoin Trust ETF, IBIT, has flashed a golden cross, a bullish signal, as the 50-day simple moving average surpassed the 200-day average. The ETF's shorter average has crossed above the longer one, indicating a potential uptrend. The SEC has also approved a rule change to allow triple-leveraged Bitcoin and Ethereum products to be listed, further broadening the selection of cryptocurrency products.

The approval comes as US spot Bitcoin exchange-traded funds saw new inflows in October, with BlackRock's iShares Bitcoin Trust ETF leading the pack with $195.57 million in inflows. The total net assets across the funds hit $109.34 billion, with net inflows through October 1 reaching $51.25 million.

The SEC's approval of the Cboe BZX Exchange rule change will allow six leveraged products from Volatility Shares' VS Trust to list on the exchange, including Bitcoin and Ethereum. However, it's worth noting that trading in each fund can only begin once the fund's registration has become effective.