Crypto
Cboe Files for 3x Bitcoin and Ether ETFs Amid Weakened Institutional Demand
Cboe BZX Exchange has filed a proposed rule change to list two Volatility Shares funds, including a 3x Bitcoin ETF and a 3x Ether ETF.
The funds would target three times their assets' daily performance through CME futures, but the leverage would reset daily.
This move comes as institutional demand in the crypto market has weakened, leading to under pressure exchange-traded fund flows.
Volatility Shares LLC, the sponsor of the funds, already offers 2x Bitcoin and Ether ETFs, which operate as commodity pools under the Commodity Futures Trading Commission's framework.