Bitcoin Price Doubling Funds on the Way ByJames LevensonPRO INVESTOR Last Updated: 03 September 2021 Big investment firms across the US are waking up to the power of the crypto market following Bitcoin’s epic ascent in 2017. Traditional investors are looking for a way to get into crypto without the technical hurdles of using exchanges, and finance companies are coming up with new ways to entice them. A Reuters report today revealed a new idea to build “leveraged” and “inverse” funds that would rise or fall twice as fast as the actual price of Bitcoin on a given day. This could provide some stomach-churning volatility beyond what cryptocurrencies already have. Double or Quits According to Reuters, Direxion Asset Management LLC plans to list such products on Intercontinental Exchange Inc’s NYSE Arca exchange if US securities regulators approve them. The exchange made the filing this week and said that it: …will enhance competition among market participants, to the benefit of investors and the marketplace. If Bitcoin’s volatility wasn’t wild enough, doubling up could quickly make or break brave bulls and bears. The digital asset has become a household name in 2017, made famous for its rapid ascent in value from less than $5,000 in October to $20,000 in December. Trading it has been challenging as exchanges, such as Coinbase, simply close down when they get overwhelmed with traffic. Offering futures was one way forward, which is exactly what two large Chicago-based exchanges did late last year. This provides a way to trade on the price of Bitcoin without actually owning the digital asset or using cranky crypto exchanges. Bolder Products Asset managers have been contesting to design more than 10 proposals for Bitcoin funds that are currently before US regulators, said Reuters. New ETFs will make access easier for institutional investors and provide more leverage on the trades with a 20% loss or win on the day being doubled to 40%. The US Securities and Exchange Commission has declined or put on hold all of the proposals at the time of writing. After trading in a sideways channel for a couple of weeks, Bitcoin has finally woken up again and started to move back upwards. In the last 24 hours, it has broken key resistance over $15,500 and is currently trading at $17,100 according to Coinmarketcap, which is up 11% for the period. Are heavily leveraged funds too risky to trade with crypto? Add your thoughts below. Images courtesy of Bitcoinist archives. The post Bitcoin Price Doubling Funds on the Way appeared first on Bitcoinist.com.