An executive from the company said that Volatility shares’ 2x Bitcoin Strategy (BITX) would become the first leveraged cryptocurrency ETF in the United States, after the U.S. Securities and Exchange Commission allowed it to go into effect on Friday.

Volatility shares Chief Investment Officer Stuart Barton confirmed that the regulator had not rejected the application for the ETF. This will allow for its launch on Tuesday.

Barton stated that it was exciting to see digital asset in an ETF.

Leveraged 2x ETFs allow customers to get exposure to bitcoin by only investing half of the value.

In a prospectus, it was stated that the ETF would be correlated with the CME Bitcoin Futures Daily Roll Index.

The SEC has approved the application of BlackRock, a major traditional investment company that filed for bitcoin spot ETFs.

The SEC has repeatedly blocked the launch of spot products, despite a number futures-based ETFs already trading. The SEC has also blocked the launch of other leveraged bitcoin products.

Nikhilesh De.