The race for the first leveraged Bitcoin exchange-traded fund is heating up as applications land amid a surge in cryptocurrency prices.
Direxion on Monday filed for the Direxion Daily Bitcoin Strategy Bull 2X Shares ETF, which would look to double the performance of the S&P CME Bitcoin Futures Index each day. That follows a ProShares application on Friday for the ProShares UltraBitcoin Strategy ETF, which would seek similar types of returns as Direxion’s proposed fund.
