SEC Approves Triple-Leveraged Bitcoin, Ethereum Funds as IBIT Flashes Golden Cross

The Securities and Exchange Commission (SEC) has approved the listing of six triple-leveraged products, including funds tied to Bitcoin (BTC) and Ethereum (ETH), on the Cboe BZX exchange. This move allows Volatility Shares' VS Trust to list these funds, which seek three times the daily return of their benchmark.

BlackRock's iShares Bitcoin Trust ETF (IBIT) has flashed a golden cross, a bullish sign for traders, as its 50-day simple moving average crossed above its 200-day average. This comes on the heels of new inflows into US spot Bitcoin exchange-traded funds, with IBIT leading the pack with $195.57 million in inflows.

The SEC's approval of these leveraged products adds to the growing selection of Bitcoin products available to investors. However, it's worth noting that returns over longer periods can diverge from the target multiple and even move in the opposite direction, as mentioned by Volatility Shares in its 2023 filing for the 2x Bitcoin Strategy ETF (BITX).