Cboe Seeks SEC Approval for Leveraged Bitcoin and Ether ETFs

Cboe BZX Exchange has submitted a proposal to the U.S. Securities and Exchange Commission (SEC) for approval of a suite of leveraged commodity exchange-traded funds, including 3x daily Bitcoin and Ether products.

The proposed rule change includes a 3x Gold ETF, 3x Silver ETF, 3x Bitcoin ETF, 3x Ether ETF, 3x Crude Oil ETF, and 3x Natural Gas ETF, which aim to deliver three times the daily performance of their underlying assets by holding futures contracts on CME or COMEX with cash and cash equivalents as collateral.

The funds are designed for short-term, tactical trading by sophisticated investors and will operate as commodity pools under Commodity Futures Trading Commission oversight rather than traditional 1940 Act investment companies overseen by the SEC.