Cboe Seeks Approval for Triple-Leveraged Bitcoin and Ethereum ETFs

Cboe exchange has filed for approval to list triple-leveraged Bitcoin and Ethereum ETFs in the US, marking a significant move in the crypto space. The filing comes after Volatility Shares already offers access to 2x Bitcoin and Ethereum Strategy ETFs that the SEC approved in June 2023.

The 2x Bitcoin ETF (BITX) has amassed $846 million in net assets while the 2x Ether ETF (ETHU) has $723 million in net assets. However, data from SoSoValue shows that Bitcoin ETFs recorded outflows of $389 million between August 10 and August 14, a stark contrast to the previous week after the coldcard hacking attack fuelled $853 million inflows to BTC ETFs.

Despite this, other altcoin ETFs are recording a surge in inflows, with Solana topping the ranks with $10.26 million inflows in the week starting August 10. XRP and HYPE ETFs also saw $2.25 million and $2.74 million in inflows, respectively.

Data from Glassnode shows that Bitcoin's one-week implied volatility has dropped to 26%, suggesting a decrease in traders' fears of a decline in Bitcoin price. The 25-delta skew has also dropped to 5%, indicating fewer traders hedging against a decline in Bitcoin price.