SEC clears Cboe rule change for 3x leveraged Bitcoin and Ether ETPs
CIE News ·
The SEC approved a Cboe BZX rule change allowing the listing of 3x leveraged Bitcoin and Ether funds from VS Trust, though registration effectiveness remains pending.
The U.S. Securities and Exchange Commission approved a proposed rule change by Cboe BZX Exchange permitting the listing of six triple-leveraged exchange-traded products, according to CryptoSlate. The decision, issued under Release No. 34-106577, covers products sponsored by Volatility Shares LLC under the VS Trust, including the 3x Long Bitcoin ETF under proposed ticker BITH and the 3x Long Ether ETF under proposed ticker ETHK.
The products are structured as Commodity-Based Trust Shares and target three times the daily performance of futures-based benchmarks rather than spot market prices. Because the funds rebalance daily, the sequence of daily compounding means returns over longer periods can diverge significantly in size and direction from the benchmark multiple.
While the exchange rule hurdle has cleared, the preliminary prospectus indicates that securities cannot be sold until their registration statement becomes effective. CryptoSlate reported that registration effectiveness and an initial trading date remain unconfirmed as of October 4, 2026.