The Proshares Ultra Bitcoin ETF is experiencing notable activity as Bitcoin's price is buoyed by the U.S. Securities and Exchange Commission's decision to scale back its crypto enforcement unit. This regulatory shift is perceived as a positive development, fostering a more crypto-friendly environment and reducing the immediate threat of stringent enforcement actions. Additionally, El Salvador's continued accumulation of Bitcoin, adding 20 BTC to its reserves, has further bolstered market sentiment. These factors contribute to a generally optimistic outlook for Bitcoin, despite its ongoing struggle to maintain levels above $100,000.
The Proshares Ultra Bitcoin ETF (BITU) saw a slight decline, dropping 0.67% to $51.91 as of 8:20 AM on Wednesday, February 5.