SEC Clears First 3x Leveraged Crypto ETPs, Raising Bitcoin Exposure

Bitcoin hovered near $85,000 on Sunday as investors considered the implications of a new U.S. regulatory development that may expand leveraged exposure to the largest cryptocurrency.

The U.S. Securities and Exchange Commission approved a Cboe BZX rule change allowing the exchange to list six triple-leveraged exchange-traded products from Volatility Shares.

These products aim to track three times the daily performance of Bitcoin, Ether, Litecoin, Bitcoin Cash, Ethereum Classic, or XRP.

The decision does not mean the products are immediately available for trading; registration requirements must still be completed before shares can be publicly offered.