NYSE Arca exchange is planning to create leveraged and inverse funds that offer 50 percent gains or losses in a day on bitcoin price movements. It is the latest company to file papers with SEC ( SEC ) covering a bitcoin product, which Direxion wants to launch on the SEC . The Milwaukee -based firm said its funds would "enhance competition among market participants, to the benefit of investors and the marketplace". So far the the US Securities and Exchange Commission has declined or suspended all proposals for bitcoin funds.
Direxion Asset Management is planning to create leveraged and inverse funds that offer 25% to 50% gains or losses in a day on bitcoin price movements. It is the latest company to file papers with the US Securities and Exchange Commission (SEC) covering a bitcoin product, which Direxion wants to launch on the NYSE Arca exchange. The Milwaukee-based firm said its funds would "enhance competition among market participants, to the benefit of investors and the marketplace". So far the SEC has declined or suspended all proposals for bitcoin funds.