SEC Approves MSTX, First Leveraged Long MicroStrategy ETF with 175% Exposure

Aug 15, 2024, 12:09 PM

The U.S. Securities and Exchange Commission (SEC) has approved the first leveraged long MicroStrategy ETF, known as MSTX. This marks a significant development in the institutional involvement in cryptocurrency markets. The ETF, linked to Bitcoin, aims for 175% daily exposure to MicroStrategy, a company known for its substantial Bitcoin holdings, which currently amount to over 226,000 Bitcoins worth approximately $13 billion. This approval is seen as a bullish move for the crypto industry.