Cboe Seeks SEC Approval for Triple-Leveraged BTC and ETH ETFs
Cboe Global Markets has submitted a request to the SEC for approval of two new exchange-traded funds (ETFs) that track three times the daily performance of Bitcoin and Ethereum. The proposed ETFs, which would be listed on Cboe BZX Exchange, are part of a broader expansion of crypto-related investment vehicles in the US.
The filing covers ETFs linked to gold, silver, crude oil, and natural gas, but the focus is on the BTC and ETH versions, which would mark the first triple-leveraged crypto ETFs available to US investors. The instruments aim to provide amplified daily exposure by holding futures contracts traded on the Chicago Mercantile Exchange or COMEX.
Volatility Shares LLC will serve as the sponsor of the products, with Cboe indicating it will file related registration statements under the Securities Act of 1933. The structure positions the funds as commodity pools regulated primarily by the Commodity Futures Trading Commission (CFTC) rather than traditional investment companies.
The SEC's review process typically involves a public comment period and a decision window that can extend to 45 days or longer after notice publication in the Federal Register. Approval is not guaranteed, and regulators will examine factors such as investor protection, market integrity, potential for manipulation, and the operational readiness of the proposed products.