Crypto

U.S. SEC approves listing of six 3x leveraged ETFs tracking bitcoin and five other assets

The U.S. Securities and Exchange Commission approved the listing and trading of six 3x leveraged ETFs tracking bitcoin, ether, gold, silver, oil and natural gas. The approval was made by clearing a rule change filed by the Cboe BZX Exchange, Coinpost reported. The products seek to deliver three times the daily moves of their underlying assets before fees, using futures. The approval covers listing only, with additional steps required before trading begins.

Crypto

Nexchange launches fractional investment OTC exchange, appoints Jung Yoo-shin as CEO

Nexchange, a preparatory company set up to handle over-the-counter distribution of fractional investment products, has officially launched. Twenty-one institutions including Nextrade held its inaugural general meeting on Sept. 29 and appointed Jung Yoo-shin as the first chief executive. The company plans to begin trading products such as music intellectual property, aircraft engines and real estate loan receivables, and later expand to artworks, webtoons and performances.