SEC Clears 3x Leveraged ETPs for Bitcoin and Ether

The US Securities and Exchange Commission (SEC) has approved a rule change that allows for the listing and trading of six 3x leveraged exchange-traded products (ETPs) in the US, including funds tied to Bitcoin and Ether. The approval, issued on October 2, 2026, under Release No. 34-106577, covers six products structured as series of the Volatility Shares (VS) Trust.

The 3x Bitcoin ETP and 3x Ether ETP will not hold actual Bitcoin or Ether, but will instead get their exposure through futures contracts, which are agreements to buy or sell an asset at a set price on a later date.

The approval does not mean that trading can start immediately, as the products still need to complete a separate Form S-1 registration statement under the Securities Act of 1933, which has no disclosed timeline for effectiveness.

The funds will reset their leverage every day, which can lead to compounding across up and down days, potentially eroding value, even if the underlying asset finishes a stretch roughly where it began.

This marks the first US approval of triple-leveraged ETPs linked to Bitcoin and Ether, bundled with traditional commodities in the same action.