BlackRock's IBIT ETF Flashes Golden Cross As SEC Approves Triple-Leveraged Bitcoin, Ethereum ETPs

• BlackRock's iShares Bitcoin Trust ETF has its 50-day average moving above its 200-day average.

• The SEC approved a Cboe BZX rule change on Friday to allow listing of six 3x leveraged products from Volatility Shares' VS Trust.

• Trading in each fund can only begin once the fund's registration has become effective.

BlackRock's (BLK) iShares Bitcoin Trust ETF (IBIT) flashed a golden cross on Saturday, as the Securities and Exchange Commission (SEC) approved a rule change to allow triple-leveraged Bitcoin (BTC) and Ether (ETH) products to be listed.

According to Koyfin data, IBIT's 50-day simple moving average (SMA) was 41.97, only up from its 200-day average of 41.92. The shorter average crosses above the longer one to form a golden cross. Traders often read it as a bullish sign.

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SoSoValue data showed US spot Bitcoin (BTC) exchange-traded funds began October with new inflows. The funds had net inflows of $102.67 million on Oct. 1. Topping the list was BlackRock's iShares Bitcoin Trust ETF with $195.57 million.

IBIT's inflow exceeded the group's net inflow. SoSoValue data showed total net assets across the funds hit $109.34 billion. Net inflows through October 1 for the week to date were $51.25 million