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". Top voices on markets from economist Robert Shiller to JPMorgan Chase & Bitcoin's value has surged over the past year, but it remains far from mainstream.
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". Bitcoin's value has surged over the past year, but it remains far from mainstream.