CoinShares Submits Bitcoin Volatility ETF Application

CoinShares, a leading crypto investment firm, has submitted a prospectus for a Bitcoin Volatility exchange-traded fund (ETF) to the US Securities and Exchange Commission (SEC). The new product, CBIX, will enable traders to gain exposure to Bitcoin price changes without holding the flagship asset.

The ETF is likely to track Bitcoin futures on an established futures exchange, such as the CME. This means that institutional investors can use it for short-term hedging purposes. Interestingly, similar products already exist for equities, such as Fidelity VIX ETFs.

Bitcoin's value surged to $70,000 amid speculation of a US-Iran war resolution. President Donald Trump hinted at positive conversations between the US and Iran on de-escalation and resolving conflicts.