The first leveraged Ether exchange-traded fund (ETF) in the United States, the Volatility Shares 2x Ether ETF (ETHU), is set to start trading on June 4 after securing approval from the U.S. Securities and Exchange Commission.

Semler Scientific (Nasdaq: SMLR), a leader in medical technology known for its QuantaFlo® diagnostic tool for chronic diseases, announced a strategy shift in its treasury management by adopting Bitcoin as its primary reserve asset.

BlackRock’s income and bond-focused funds have recently added exposure to its own spot Bitcoin ETF, with regulatory filings showing that BlackRock's Strategic Income Opportunities Fund and Strategic Global Bond Fund purchased shares of iShares Bitcoin Trust (IBIT).

Top stories in the Crypto Roundup today:

•   First Leveraged Ether ETF Launches in U.S.
•   Semler Scientific Adopts Bitcoin as Primary Treasury Reserve Asset
•   BlackRock Income and Bond Funds Invest in Own Spot Bitcoin ETF
•   Benefits of Staking Ether Exemplified

First Leveraged Ether ETF Launches in U.S.

The first leveraged Ether exchange-traded fund (ETF) in the United States, the Volatility Shares 2x Ether ETF (ETHU), is set to start trading on June 4 after securing approval from the U.S. Securities and Exchange Commission.

The fund’s listing comes roughly a year after the launch of the Volatility Shares 2x Bitcoin ETF in June 2023. Notably, spot Bitcoin ETFs, which directly track the price of Bitcoin, secured SEC approval only seven months later.

Volatility Shares Chief Investment Officer Stuart Barton expressed optimism that the approval of the leveraged Ether ETF could pave the way for similar acceptance of spot Ether ETFs.

Last week, the SEC approved applications from major stock exchanges to list spot Ether ETFs, clearing the path for these products to start trading later this year. Individual ETF issuers including VanEck, ARK Investments, and BlackRock will still need the SEC to greenlight their registration statements before trading can begin.

Semler Scientific Adopts Bitcoin as Primary Treasury Reserve Asset

Semler Scientific (Nasdaq: SMLR), a leader in medical technology known for its QuantaFlo® diagnostic tool for chronic diseases, announced a strategy shift in its treasury management by adopting Bitcoin as its primary reserve asset.

In a press release, Semler Scientific disclosed the purchase of 581 BTC for $40 million, with Eric Semler, the company’s chairman, highlighting Bitcoin's unique features – its scarcity and finite supply – as a reasonable hedge against inflation and a safe haven during economic uncertainty.

Semler further argued that Bitcoin's digital and architectural security provides advantages over traditional assets like gold, which has a tenfold higher market capitalization, and given this disparity suggested TC could yield significant returns as it gains acceptance as digital gold.

Before adopting Bitcoin as a primary treasury reserve asset, Semler Scientific’sboard and senior management conducted a thorough examination of potential uses for their cash reserves, including acquisitions.

BlackRock Income and Bond Funds Invest in Own Spot Bitcoin ETF

BlackRock’s income and bond-focused funds have recently added exposure to its own spot Bitcoin ETF, with regulatory filings showing that BlackRock's Strategic Income Opportunities Fund and Strategic Global Bond Fund purchased shares of iShares Bitcoin Trust (IBIT).

The Strategic Income Opportunities Fund (BSIIX) acquired $3.56 million of IBIT shares, while the Strategic Global Bond Fund (MAWIX) bought $485,000. These purchases represent a small fraction of the respective funds' total portfolios, with IBIT shares making up a minuscule portion of the $37.4 billion and $776.4 million managed by the Income Opportunities and Global Bond Funds, respectively.

BlackRock’s spot Bitcoin ETF, IBIT, currently holds $19.6 billion worth of the flagship cryptocurrency, making it the second-largest Bitcoin fund behind Grayscale’s Bitcoin Trust (GBTC), which holds $19.76 billion worth of the cryptocurrency.

Earlier this week spot Bitcoin exchange-traded products (ETPs) saw their total amount of Bitcoin holdings surpass 1 million BTC, with the lion’s share of these coins being held by spot Bitcoin ETFs in the United States.

Benefits of Staking Ether Exemplified

An investor who purchased 1,000 ETH last year would’ve seen their funds grow from $1.2 million – their initial investment – into $3.66 million after the price of the cryptocurrency soared amid a wider crypto market rise.

If they chose to stake the funds, however, they would have seen their portfolio grow to $3.87 million, a difference of $217,000.

State of the Crypto by Top Tier Exchange Volume

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