SEC Clears Path for Triple-Leveraged Bitcoin and Ether ETFs

The US Securities and Exchange Commission (SEC) has approved six 3x leveraged exchange-traded products for listing, including funds tied to Bitcoin and Ether. The approval clears the way for Volatility Shares LLC's sponsored series of the Volatility Shares Trust to begin trading. However, trading cannot start until a separate Form S-1 registration statement under the Securities Act of 1933 becomes effective.

The six approved products are structured as series of the VS Trust and target Bitcoin, Ether, gold, silver, crude oil, and natural gas. Each fund aims to deliver three times the daily performance of its underlying asset, but does not hold actual assets such as Bitcoin or barrels of oil. Instead, they get their exposure through futures contracts.

The regulatory paperwork moved at a reasonable clip, with Cboe BZX Exchange filing the proposed rule change on August 10, 2026, and the SEC publishing notice of it on August 14. Approval followed on October 2, addressing limitations on leveraged commodity-based trust shares.