NFT News by Thebittimes.Com

Financial products provider Direxion has filed to register five Bitcoin (BTC) ETFs. Bloomberg analyst James Seyffart reported that on Jan. 18, Direxion filed to register five leverage d Bitcoin ETFs with the U.S. Securities and Exchange Commission (SEC). UPDATE: @DirexionLETFs joins the leveraged #bitcoin ETF filings with 5 funds. 2x, -2x, 1.5x, -1.5x, and -1x. Rex Shares, ProShares and Direxion all filed now. pic.twitter.com/ZKhM4rhRtT — James Seyffart (@JSeyff) January 18, 2024 Direxion’s documents show plans to create Bitcoin funds with long leverage of 1x, 1.5x, and 2x, and one for each fund with short leverage . Leveraged ETFs are exchange-traded funds structured to mirror the daily returns of an underlying index. Bloomberg ETF analyst Eric Balchunas also noted in a commentary that leveraged Bitcoin ETFs could soon outnumber long-only positions. Direxion became the third company last month to file for a leverage d ETF, joining ProShares, which filed f...

According to the European Commission, 20 projects have been selected in the first cohort to receive legal advice and regulatory guidance. The first batch of blockchain use cases to debut in Europe's regulatory sandbox was formally introduced on July 3, following a long wait and nearly 90 applications received in April. First disclosed in 2020, the initiative aims to bridge the regulatory gap between European nations and crypto companies. According to the European Commission, 20 projects have been selected in the first cohort, with companies in finance and capital markets, telecoms and IT, global trade, transportation, and cross-sectoral projects leading the group. The projects are spread across five European regions, including Western Europe with 14 use cases , Southern Europe with 10 projects, Nordics and Central Europe both with eight projects each, and Eastern Europe with seven projects. Blockchain projects selected for the first cohort of the EU regulatory sandbox. Source...