SEC Greenlights 6X Leverage Crypto Funds, Trading Still Pending

The US Securities and Exchange Commission (SEC) has approved rule changes for the listing and trading of six 3x leveraged exchange-traded products (ETPs), including funds tied to Bitcoin and Ethereum.

The approval was issued as Announcement No. 34-106577, covering six products established as part of the Volatility Shares trust series.

The two crypto-linked products are a 3x Bitcoin ETF and a 3x Ethereum ETF, while the remaining four track gold, silver, crude oil, and natural gas.

The objective of each product is to deliver three times the daily performance of its underlying asset, but the key word here is 'daily,' which carries significant implications.