SEC is said to not allow leveraged Bitcoin ETF - WSJ

The U.S. Securities and Exchange Commission is said to have told at leas one asset manger not to go forward with plans for a leveraged bitcoin exchange-traded fund. The SEC appears to want to restrict bitcoin-related products to to only unleveraged exposure to bitcoin futures contracts, according to a WSJ report. The WSJ report comes after the SEC recenty allowed a few bitcoin-related ETFs to begin trading, including the ProShares Bitcoin Strategy ETF (NYSEARCA:BITO) and the Valkyrie Bitcoin Strategy ETF (NASDAQ:BTF). While BITO does not directly hold Bitcoin (BTC-USD), the new ETF aims to provide market participants with capital appreciation through managed exposure to Bitcoin-futures contracts.