Reporting by Trevor Hunnicutt; Additional reporting by John McCrank; Editing by Leslie Adler Direxion Asset Management is planning to create leveraged and inverse funds that offer 25 % to 50 % gains or losses in a day on bitcoin market 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 the 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 market 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 the funds .