Cboe has filed with the SEC to list 3x-leveraged Bitcoin and Ether ETFs, asking the regulator to approve exchange-traded funds that would seek triple the daily performance of Bitcoin and Ethe
Cboe has filed with the SEC to list 3x-leveraged Bitcoin and Ether ETFs, asking the regulator to approve exchange-traded funds that would seek triple the daily performance of Bitcoin and Ether futures. If cleared, the products would be the first U.S. 3x Bitcoin and Ether ETFs.
Cboe BZX Exchange filed proposed rule change SR-CboeBZX-2026-065 with the SEC on August 10, 2026, seeking to list shares of a 3x Bitcoin ETF and a 3x Ether ETF as part of a six-fund VS Trust proposal. For related coverage, see SEC Approves Bitcoin Spot ETFs, Boosting Market Interest.
Cboe filing date August 10, 2026 The SEC notice says Cboe BZX filed SR-CboeBZX-2026-065 on August 10, 2026, kicking off the exchange-rule process for the six-fund VS Trust proposal.The SEC published its notice of the filing on August 14, 2026, formally soliciting public comment on the proposed rule change. The notice starts the regulatory process but does not amount to an approval. For related coverage, see SEC Opens Path for Altcoin ETFs Including XRP.
The filing sits alongside a broader push into regulated crypto products at the exchange, which earlier moved to launch regulated Bitcoin and Ether futures. It also follows this year's expansion of spot crypto listings, including the debut of the 21Shares spot XRP ETF on Cboe BZX.
The bitcoin and ether funds are designed to deliver three times the daily performance of first- and second-month CME bitcoin and ether futures benchmarks, rather than holding spot Bitcoin or Ether directly.
Target daily leverage 3x The proposed bitcoin and ether funds are designed to deliver three times the daily performance of CME futures benchmarks, highlighting that the filing is for leveraged futures-based exposure.A 3x daily target means the funds aim to magnify one day's move in their benchmark by three, resetting each day. That daily reset makes the products short-term trading tools rather than long-term holdings, and it means returns over multiple days can diverge sharply from three times the underlying's move.
Because they amplify daily moves, the funds carry materially higher volatility and risk than unleveraged spot exposure. The futures-based structure also differs from spot Bitcoin and Ether ETFs, which hold the underlying assets and track their price directly.
The trust and its funds are structured as commodity pools under CFTC oversight and will not be registered as 1940 Act investment companies, a distinction that shapes how the products are regulated and disclosed.
The filing cannot use BZX's generic listing standard because Rule 14.11(e)(4)(F) prohibits leveraged products, so Cboe needs a specific 19b-4 order from the SEC before the funds can trade. That requirement is why this proposal is a standalone rule change rather than an automatic listing.
The SEC has 45 days after the notice is published in the Federal Register, a window that can be extended to as much as 90 days, to approve, disapprove, or institute proceedings on the rule change. Notably, that clock runs from Federal Register publication, not from the August 14 SEC release date.
These would be the first U.S. 3x bitcoin and ether ETFs if approved, The Block reported. Covering both Bitcoin and Ether broadens the relevance of the proposal beyond a single-asset audience and points to continued expansion of exchange-listed crypto products following the wave of spot Bitcoin ETF approvals and the SEC's move to approve in-kind redemptions for Bitcoin and Ethereum ETFs.
The proposal lands in a cautious market. Bitcoin traded near $62,969, down about 0.8% over 24 hours, while the Fear & Greed Index sat at 34, in "Fear" territory.
ETF-industry reaction was constructive. Nate Geraci flagged the SEC's acknowledgment of the filing and grouped it with a broader set of new 3x commodity ETF proposals.
SEC acknowledges Cboe’s 19b-4 filing to list & trade 3x leveraged bitcoin and ether ETFs…Also pursuing 3x leveraged gold, silver, oil, & nat gas ETFs.Giddyup. pic.twitter.com/6pQf4nqGG4
— Nate Geraci (@NateGeraci) August 14, 2026
Source: @NateGeraci on X
For now, the outcome hinges on the SEC's review window once the notice hits the Federal Register, when the formal decision clock begins.
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.
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