SEC Approves Bitcoin ETF with Triple Daily Futures Exposure

The US Securities and Exchange Commission (SEC) has approved the listing of a Bitcoin ETF that targets three times its daily futures moves. The approval covers a broader commodity lineup, preserving exchange oversight and brokerage obligations as the sponsor pursues market access.

The bitcoin strategy focuses on first- and second-month futures, with cash and cash equivalents pledged to support those positions. It's not regulated under the Investment Company Act of 1940, which governs conventional ETFs.

A 1% rise in the bitcoin futures benchmark would translate into a targeted 3% daily gain before fees and expenses, while a 1% decline would correspond to a targeted 3% loss. The reference portfolio's performance can differ from changes in the cryptocurrency's price for immediate purchase, known as its spot price.

The sponsor's existing crypto lineup includes its 2x bitcoin fund, launched in June 2023, and its expansion continued in May 2025 with Nasdaq-listed XRP futures funds offering unleveraged and 2x daily targets. Trading requires an effective registration statement before shares debut.