The Volatility Shares 2x Bitcoin Strategy ETF (BITX) is scheduled to launch on the Chicago Board Options (CBOE) BZX Exchange next Tuesday, June 27th.

The U.S. Securities and Exchange Commission (SEC) has approved the first leveraged Bitcoin futures exchange-traded fund (ETF) on Friday. Volatility Shares 2x Bitcoin Strategy ETF (BITX) is scheduled to launch on the Chicago Board Options (CBOE) BZX Exchange next Tuesday, June 27.

According to the SEC filing, BITX “seeks investment results that correspond to two times (2x) the return of the Chicago Mercantile Exchange (CME) Bitcoin Futures Daily Roll Index.”

An ETF, or exchange-traded fund, bundles securities like stocks and commodities. Investors can buy shares of an ETF to gain exposure to those securities without owning them directly. In the case of Bitcoin ETFs, there have been two main types: Bitcoin futures and Bitcoin spot.

The BITX fund will be a leveraged ETF. Leveraged funds use debt or financial derivatives—in this case, Bitcoin futures—as leverage to amplify the returns of a benchmark index. That leverage can mean short-term gains for investors, but it can also lead to big losses.

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Litecoin (LTC), one of the leading cryptocurrencies, achieved an All-Time High (ATH) in payment transactions, marking a significant turning point for the crypto industry. This development reflects the increased acceptance and adoption of Litecoin as a viable payment option across various sectors.

Achieving ATH in payment transactions is not just a significant achievement for Litecoin but can also be seen as a significant achievement for the wider crypto industry. It demonstrates that cryptocurrencies can serve as a successful exchange medium, challenging traditional financial systems.

In a post on Litecoin’s official Twitter page, it emphasized reaching a critical milestone in the adoption of payments. Specifically, the cryptocurrency reached an ATH of 167 million transactions.

Boasting a solid track record and a practical focus, Litecoin offers exciting alternatives for investors. Specifically, Litecoin’s faster transaction times and lower fees compared to Bitcoin (BTC) make it more practical for everyday use.

Litecoin’s Price Rises in Anticipation of Halving Event

Another significant indicator of Litecoin’s increasing value is the expanding community of developers and projects built on its network. The growing interest in using Litecoin technology for innovative solutions underscores its suitability and adaptability.

By enabling developers to create decentralized applications and services, Litecoin demonstrates potential to revolutionize various sectors beyond traditional payments.

Litecoin has experienced notable positive price movement in recent weeks, with its price rising as the eagerly anticipated Litecoin halving event draws nearer.

Historically, the halving, a significant event that occurs every four years in the Litecoin protocol, has been associated with price gains for the cryptocurrency. As investors and traders anticipate the effects of the upcoming halving event, the market sentiment surrounding Litecoin has been largely positive. The event can contribute to its appeal as a store of value by reminding of Litecoin’s deflationary nature and limited supply.

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