SEC Approves Triple-Leveraged ETPs for Bitcoin, Ether, and Commodities
The U.S. Securities and Exchange Commission (SEC) has approved six new futures-based exchange-traded products (ETPs) that track three times the daily performance of Bitcoin, Ether, and four commodities.
These ETPs will be offered by Volatility Shares' VS Trust and will not physically hold any assets; instead, they will use regulated futures contracts to track prices. The approved funds include 3x leveraged versions of Bitcoin and Ether, as well as gold, silver, crude oil, and natural gas.
The new ETPs aim to deliver three times the asset's daily price move. For example, if an asset rises by 1%, the fund could rise about 3%. If it falls by 1%, the fund could also fall about 3%.
SEC staff must declare the registration effective before the public tickers can start trading on brokerages. The current filings do not provide a specific date for when the S-1 registration will become effective.