Cboe Targets SEC Approval for First US 3x Bitcoin and Ether ETFs

Cboe BZX Exchange filed a proposed rule change on August 10 seeking SEC approval to list 3x daily Bitcoin and Ether ETFs, according to an SEC notice published Friday. The products would be sponsored by Volatility Shares and join similar leveraged funds tied to gold, silver, crude oil and natural gas.

The proposed crypto ETFs would target three times the daily performance of Bitcoin and Ether, primarily through CME futures contracts, with cash and cash equivalents held as collateral. The structure would give U.S. traders another regulated vehicle for gaining amplified exposure to two of crypto’s largest assets, although daily leverage makes the funds primarily tactical instruments rather than traditional long-term holdings. Volatility Shares already offers 2x Bitcoin and Ether ETFs in the U.S. market.

Cboe’s proposal requires specific SEC approval because leveraged products fall outside the exchange’s generic listing standards. The exchange is also expected to submit related registration documents, while the SEC’s review will determine whether the funds can proceed to listing.

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