Cboe Seeks SEC Approval for 3x Bitcoin and Ethereum Futures Funds

Cboe BZX Exchange has submitted a proposal to the Securities and Exchange Commission (SEC) for an exception to its generic listing rules, seeking to list six Volatility Shares funds that track three times the daily performance of Bitcoin and Ethereum futures.

The proposed funds would use futures traded primarily on CME, rather than holding the cryptocurrencies directly. The filing remains pending, with a notice from the SEC dated August 14 stating that the registration statement was not yet effective and the shares had not been authorized for trading.

Volatility Shares already offers 2x Bitcoin and Ethereum futures ETFs, which have experienced significant losses over longer holding periods. For example, its 2x ETH ETF reported a -96.15% average annualized return since its June 4, 2024 inception.