Investing.com — Bitcoin hovered near $85,000 on Sunday as investors weighed a new U.S. regulatory development that could expand leveraged exposure to the world’s largest cryptocurrency.

Bitcoin traded at $84,860.5 as of 01:29 ET (05:29 GMT), little changed over the past 24 hours. The token has remained in a relatively narrow range after briefly climbing above $87,000 earlier in the week.

The U.S. Securities and Exchange Commission on Friday approved a Cboe BZX rule change allowing the exchange to list six triple-leveraged exchange-traded products from Volatility Shares.

The products target three times the daily performance of bitcoin, ether, gold, silver, crude oil and natural gas. The bitcoin and…