SEC Approves 3x Leveraged ETPs for Bitcoin, Ethereum, and Commodities

The U.S. Securities and Exchange Commission (SEC) has approved a rule change allowing the listing of six 3x leveraged exchange-traded products (ETPs) on the Cboe BZX Exchange. The approval, granted on October 2, 2026, covers ETPs tracking Bitcoin, Ethereum, gold, silver, crude oil, and natural gas. These products, offered by VS Trust Series, are designed to deliver three times the daily returns of their underlying assets, before fees and expenses.

The ETPs will not hold the spot assets directly but will instead use related futures contracts and cash collateral. Bitcoin and Ethereum products will primarily rely on Chicago Mercantile Exchange (CME) futures, while gold and silver products will use Commodity Exchange Inc. (COMEX) futures. Crude oil and natural gas products will utilize New York Mercantile Exchange (NYMEX) futures.

While the SEC's approval marks a significant step, the actual trading of these products will require separate registration procedures. This means investors will need to wait for further developments before they can access these highly leveraged financial instruments.