Investing.com — Bitcoin remained steady around $85,000 on Sunday as investors considered a recent regulatory change in the U.S. that could increase leveraged investment options in the leading cryptocurrency.
As of 01:29 ET (05:29 GMT), Bitcoin was priced at $84,860.5, marking little change over the previous day. The cryptocurrency has been trading within a limited range after briefly surpassing $87,000 earlier this week.
On Friday, the U.S. Securities and Exchange Commission sanctioned a rule amendment for the Cboe BZX, enabling the exchange to list six triple-leveraged exchange-traded products by Volatility Shares.
These products aim to amplify the daily performance of Bitcoin, Ether, gold, silver, crude oil, and natural gas by three times. The Bitcoin and Ether products will allow leveraged exposure via futures contracts instead of direct ownership of the digital currencies.
However, this approval does not imply that the products are instantly available for trading. Necessary registration is still pending before the shares can be offered publicly.
This regulatory advancement provides another avenue for investors seeking to enter the cryptocurrency space, especially following the SEC’s recent proposal for modifications to crypto custody regulations this week. This custody proposal gained significant attention from Bitcoin investors on Friday.
Beyond regulatory news, there are emerging signs of increased activity in the industry. CryptoJobsList documented 1,241 job openings in the cryptocurrency sector for September, a rise from 382 in July. The finance sector led in job listings, followed by engineering and trading roles, with Bitcoin expertise being the most sought-after.
The growing influence of artificial intelligence could also drive demand for blockchain infrastructure. Cathie Wood, CEO of ARK Invest, suggested that as AI evolves from simply answering queries to autonomously executing transactions, investors will need to pay closer attention to AI agents.
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Prominent blockchain networks and stablecoins are being discussed as potential payment solutions for these AI systems. BlackRock contends that AI agents could autonomously pay for processing power, data, and other services, thus boosting the demand for machine-to-machine transaction networks.
Brian Armstrong, CEO of Coinbase, has indicated that Grok is currently a leading client for automated trading on Coinbase, though he did not disclose specific numbers.
Additionally, Robert Kiyosaki, author of Rich Dad Poor Dad, reiterated his belief in Bitcoin as a safeguard against economic instability, comparing it to owning limited resources for financial preparedness. His favored assets also include gold, silver, and oil.