Bitcoin held above $85,000 early Sunday after the SEC cleared a Cboe BZX rule change letting Volatility Shares list the first triple-leveraged crypto exchange-traded products. The approval does not make the products tradable yet, and it follows a separate SEC custody-rule proposal that was already a major focus for Bitcoin markets on Friday.
Bitcoin traded above $85,000 early Sunday, with the token last up 0.44% to $85,386 as of 01:30 ET. The coin has held a narrow range since briefly climbing above $87,000 earlier in the week, and traders are now weighing a new regulatory move that could widen access to leveraged exposure.
SEC clears first 3x leveraged crypto ETPs
The U.S. Securities and Exchange Commission on Friday approved a Cboe BZX rule change allowing the exchange to list six triple-leveraged exchange-traded products from Volatility Shares. The products target three times the daily performance of bitcoin, ether, gold, silver, crude oil and natural gas, with the bitcoin and ether versions built on futures rather than direct holdings of the cryptocurrencies.
However, the decision does not mean the products are immediately available for trading. Registration requirements must still be completed before the shares can be publicly offered.
Custody proposal already drove Friday's trading
The leveraged-ETP approval adds another potential route for investors seeking crypto exposure, but it followed a separate development that had already moved the market. The SEC also proposed changes to crypto custody rules this week, and that proposal was the major focus for Bitcoin markets on Friday.
Altcoins mixed, crypto hiring picks up
Broader crypto prices were mostly lower early Sunday. Ether rose 0.65% to $2,694.78. XRP edged up 0.42% to $1.4917. Solana rose 0.98% to $120.77. BNB gained 2.51% to $786.31. Cardano fell 0.89% to $0.2439, while Dogecoin lost 0.23%.
Beyond price action, industry hiring is picking up. CryptoJobsList recorded 1,241 cryptocurrency job openings in September, up from 382 in July, with finance the largest category ahead of engineering and trading, and Bitcoin the most frequently requested blockchain expertise.
Source: Cryptocurrency News
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