According to filing documents, ETF issuer Volatility Shares submitted its application for "2x Bitcoin Strategy ETF" to the U.S. Securities and Exchange Commission (SEC) on March 29. The ETF will seek to double the performance of the S&P CME Bitcoin Futures Daily Rolling Index every day. The fund has a total expense ratio of 1.89% and its trading code is BITX.

Analyst Athanasios Psarofagis said he does not think the ETF will be approved because the SEC has previously rejected similar listing applications. The agency declined to comment on Volatility Shares' application. (Bloomberg)