SEC Clears Listing Hurdle for 3x Bitcoin and Ether Futures Funds

The Securities and Exchange Commission (SEC) has cleared a major hurdle for two Volatility Shares funds seeking to list on the Cboe BZX exchange. On October 2, the SEC approved the listing proposal for VS Trust's 3x Bitcoin ETF and 3x Ether ETF.

The decision allows for six funds, including products tied to gold, silver, crude oil, and natural gas, to move forward with their listing process. Cboe's generic commodity-trust standards exclude products seeking specified multiples of a benchmark, requiring individual approval for these funds.

VS Trust's preliminary prospectus lists BITH as the proposed symbol for the Bitcoin product and ETHK for the Ether product. The prospectus warns investors that daily leveraged products can depart substantially from their stated multiple over weeks or months, especially in volatile markets.