Direxion submits five leveraged spot Bitcoin ETF applications
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...