The first leveraged crypto exchange-traded fund in the U.S. (BITX), Volatility shares 2x Bitcoin Strategy, began trading on Tuesday. It has seen a trading volume of about $4.2 Million since its launch.

Bloomberg data shows that the ETF traded about $500k in shares within the first 15-minute period. The current share value of BITX, which is $15.48 after a rise of up to 2% from $15.90 at the beginning of trading, is approximately $15.48.

The U.S. Securities and Exchange Commission has allowed the ETF’s effective date to be Friday. This will allow it to begin trading on Tuesday. The SEC has blocked the launch of spot-based products in the U.S., but a number of futures ETFs already trade there. The SEC has also blocked the launch of other leveraged bitcoin products.

ProShares launched BITO in early 2021. It saw about $1 billion in trading volume and $570 million in assets on its first trading day.

Read more: The ProShares Bitcoin Futures ETF has the largest weekly inflows since a year

Nelson Wang is the editor.