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TradFi Giant Direxion Files for Bitcoin and Ether Futures ETF

ETF issuer Direxion has filed for a Bitcoin and Ether futures ETF, joining a crowded field of companies hoping to launch similar crypto-related trading products in the US. According to a filing with the Securities and Exchange Commission (SEC), the Direxion Bitcoin Ether Strategy ETF would invest in bitcoin and ether futures contracts, subject to regulatory approval.

The product may also invest in other ETFs with exposure to futures products. The move comes the same week that six other companies filed to launch ether futures ETFs. The SEC is currently reviewing more than half a dozen applications to launch a spot bitcoin ETF.

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