SEC Approves Leveraged Bitcoin ETF, opening doors for institutional investors.
Highlights
- SEC approves 2x Bitcoin Strategy ETF, opening doors for institutional investors.
- Price of Bitcoin briefly reached $31,430 before retracing back down to $30,000.
- The SEC has previously rejected Bitcoin-related products, raising questions about the regulatory body’s stance on Bitcoin.
- The approval of a leveraged Bitcoin ETF indicates a potential shift in the SEC’s perspective, offering a glimpse of increased acceptance of digital assets as a mainstream asset class.
- The entry of institutional players into the cryptocurrency market is anticipated to provide stability and contribute to the overall maturation of the industry, according to proponents of the 2x bitcoin strategy.
- The price of Bitcoin rose to $29,000 on Friday.
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