The SEC Approves the First 3x Bitcoin and Ether Funds: Understanding the Risks Involved
The approval covers six leveraged commodity trust shares, including 3x Bitcoin and Ether products, after Cboe filed a standalone rule change.
- On October 2, the SEC approved a Cboe BZX Exchange rule change, clearing the exchange to list six triple-leveraged products from VolatilityShares, including a 3x Bitcoin ETF and a 3x Ether ETF.
- These products are commodity trusts registered under the Securities Act, allowing them to bypass the Investment Company Act, which governs conventional ETFs and caps leveraged exposure at more than 200%.
- Because Cboe's generic listing standards excluded products targeting multiples, the exchange submitted a standalone rule change on Aug. 10, which the SEC's Division of Trading and Markets approved under delegated authority.
- VolatilityShares already offers 2x Bitcoin and Ether products under tickers BITX and ETHU; broker-dealers recommending these new funds remain bound by Regulation Best Interest and FINRA sales-practice requirements.
- The six products under the Trust include 3x exposure to Bitcoin, Ether, gold, silver, crude oil, and natural gas, though the SEC order does not establish a specific launch date.
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SEC Lets Cboe List 3x Products
Here’s to limits being broken … or at least sidestepped. The Securities and Exchange Commission last week approved a rule allowing Cboe BZX, a major US securities and ETFs exchange, to begin listing six separate 3x leveraged funds from Volatility Shares. The company, along with others, has long asked the agency to approve such strategies, even filing for 5x leveraged funds late last year. This latest move marks a departure from the SEC’s typical…
The SEC Approves the First 3x Bitcoin and Ether Funds: Understanding the Risks Involved
On October 2, 2026, the SEC officially approved the first 3x Bitcoin ETF in the United States, allowing Volatility Shares to list triple-leveraged funds for Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) on Cboe BZX. This approval also includes 3x funds associated with gold, silver, crude oil, and natural gas. These funds aim to deliver […]
The SEC Just Broke the 2x Ceiling on Leveraged Crypto ETFs — and the First 3x Products Are One Form Away From Trading
On October 2, 2026, the SEC approved a Cboe BZX Exchange rule change that broke through a ceiling that has held for the entire history of US-listed crypto exchange-traded products: the 2x leverage cap. Volatility Shares – the sponsor behind BITX, the first 2x Bitcoin ETF – now has approval to list the first 3x […]
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