BitMEX, a crypto derivatives exchange and inventor of the 100x leverage perpetual swap, will substantially boost the leverage of its ETHUSD perpetual swap to 200x on the back of the recent US regulatory approval of ether spot ETFs.

BitMEX says the leverage increase is intended to give crypto traders an intensified means to capitalise on the amplified market volatility prompted by the ETF approvals.

The move comes on the heels of increased trading activities on BitMEX since the launch of 250x leverage for its XBTUSD perpetual swapback in April this year.

BitMEX users can use the new leverage by enabling leverage booster in their settings and selecting up to 200x for ETHUSD in their order forms. The leverage booster is only available for isolated margin positions, with the risk limit adjusted to BTC5 for ETHUSD, which allows traders to adjust their strategies.