BlackRock’s iShares Bitcoin Trust entered October with two different catalysts in view: a bullish technical signal and a broader expansion of leveraged crypto products.
The supplied source says IBIT’s 50-day simple moving average moved just above its 200-day average, 41.97 versus 41.92, creating what traders call a golden cross. The signal is traditionally viewed as bullish, although the gap between the averages is very small and should not be treated as a standalone investment thesis.
More significant structurally, the SEC approved a Cboe BZX rule change that allows six triple-leveraged products from Volatility Shares’ VS Trust to list. The planned lineup includes products tied to Bitcoin, Ethereum, gold, silver, crude oil and natural gas.
Each leveraged product is designed to target three times the daily return of its benchmark. That daily reset is critical: returns over longer periods can diverge sharply from three times the underlying asset’s performance and can even move in the opposite direction during volatile markets.
The approval does not mean immediate trading. The source notes that each fund still needs its registration to become effective before it can begin trading.
IBIT also entered October with strong inflows. SoSoValue data cited in the article showed $195.57 million flowing into the fund on October 1, more than the group’s overall net inflow because other funds experienced redemptions.
BTI’s bottom line: the golden cross is a secondary signal. The more durable development is the continued expansion of regulated crypto investment products. That broadens access, but leverage also raises path-dependency and risk for investors who hold these products beyond a single trading day.