Cboe is seeking SEC approval for 3x leveraged Bitcoin and Ethereum futures ETFs, a proposal that would extend the leveraged crypto ETF race in the United States beyond the 2x products already trading.
What Cboe Is Asking the SEC to Approve
The Cboe BZX Exchange has filed a rule change with the U.S. Securities and Exchange Commission to list and trade ETFs offering 3x leveraged exposure to Bitcoin and Ethereum futures, according to the filing published on SEC.gov. For related coverage, see 21Shares Launches XRP ETF on CBOE.
The proposed products track leveraged futures exposure rather than holding spot Bitcoin or Ethereum directly. That structure distinguishes them from the spot crypto ETFs that dominate current U.S. listings. For related coverage, see Cboe Proposing Invesco Galaxy Solana ETF to SEC.
If cleared, the funds would be the first U.S.-listed 3x Bitcoin and Ether ETFs, as reported by The Block. The SEC decision is the primary open question, since leveraged futures products require the agency’s sign-off before they can begin trading. For related coverage, see Dogecoin ETFs Struggle to Gain Investor Interest.
Cboe has been an active venue for crypto-linked ETF filings, having previously moved to bring an Invesco Galaxy Solana ETF to the SEC and to list a 21Shares XRP ETF.
Why the Existing 2x Ethereum Fund Shapes the Timing
The push for 3x products follows traction around Volatility Shares’ existing 2x Ethereum fund, ETHU, which the issuer lists as a currently trading leveraged product.
The presence of a live 2x ETH fund signals demand for leveraged crypto exposure and sets up competitive pressure, as issuers race to offer higher-leverage alternatives once a lower-leverage product finds an audience.
For traders and market watchers, a 3x fund would amplify both gains and losses relative to the 2x structure, making the SEC’s stance on higher-leverage crypto futures the decisive factor. Leveraged crypto exposure has expanded across the U.S. market alongside moves such as the CFTC’s decision to authorize margin trading for Bitcoin and Ethereum.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.