SEC Greenlights VolatilityShares' 3x Bitcoin ETP Amid Institutional Adoption Gains

VolatilityShares has secured approval from the SEC for its 3x Bitcoin ETP (Exchange-Traded Product), marking a significant expansion of leveraged crypto vehicles. This move comes alongside approvals for 3x Ether, Gold, Silver, Oil, and Nat Gas products under the 33 Act.

The approval holds above the EMA50 at $84020.56 with MACD golden cross intact at 347.39 while RSI at 50.62 stays neutral. This technical analysis points to a potential push toward upper Bollinger resistance at $86141.05 before any test of lower band support at $82463.14.

The SEC's approval is seen as a step toward gradual institutional adoption, which could influence BTC price prediction models and reduce fears of crypto market crashes. The 33 Act ETP history suggests that this move will lead to increased adoption by institutions.