Cboe Seeks SEC Approval for 3x Bitcoin and Ether Leveraged Funds

US traders could soon gain access to funds that track the daily performance of Bitcoin and Ether, but with a threefold twist. Cboe BZX Exchange has submitted a proposal to list six leveraged commodity products, including the 3x Bitcoin ETF and 3x Ether ETF.

The funds would primarily hold futures contracts on the Chicago Mercantile Exchange (CME), rather than the underlying assets themselves. This means investors would be exposed to potential losses or gains that are three times the daily price move of Bitcoin or Ether.

The proposal has been sent to the SEC, which must approve Cboe's exchange rule change and the effectiveness of the trust's Form S-1 registration statement before shares can be listed on the exchange. The agency has 45 days from Federal Register publication to make a decision, but may extend this window to 240 days.