Cboe is seeking SEC approval for 3x leveraged Bitcoin and Ethereum futures ETFs, pushing leveraged crypto exposure to a new level and adding to the growing race among issuers to bring more ag
Cboe is seeking SEC approval for 3x leveraged Bitcoin and Ethereum futures ETFs, pushing leveraged crypto exposure to a new level and adding to the growing race among issuers to bring more aggressive digital-asset products to U.S. markets.
The exchange laid out the proposal in a rule filing submitted to the U.S. Securities and Exchange Commission, which lists the products as triple-leveraged futures-based funds tracking Bitcoin and Ethereum, according to the Cboe BZX filing. SEC sign-off is the immediate regulatory hurdle before either fund could list. For related coverage, see Bitcoin slips as U.S. inflation misses catalyst hopes and ETFs post August's first two-day outflow.
The move was flagged by crypto news account @WuBlockchain, which reported that Cboe is pursuing the 3x funds for both major tokens. Both Bitcoin and Ethereum are named in the push, signaling a broad leveraged product effort rather than a single-asset test.
A 3x fund aims to deliver three times the daily move of its underlying futures, compared with the 2x offerings already on the market. The structure amplifies gains and losses alike, meaning a daily drop in the underlying is magnified threefold for holders.
These are futures-based products, not spot funds that hold the tokens directly. That distinction matters because the funds track derivatives contracts rather than the coins themselves, a design already familiar from Cboe's work to launch longer-dated Bitcoin and Ethereum futures.
Issuers appear to be betting on demand for more aggressive trading vehicles as leveraged crypto ETFs proliferate. The same appetite has driven activity around single-asset products, including the SEC's decision to approve higher options position limits for BlackRock's IBIT Bitcoin ETF.
The headline ties Cboe's filing to Volatility Shares' existing 2x Ethereum fund, positioning that product as the benchmark the new 3x offerings would leap past. The source text is truncated on the fund's exact performance, so specific figures are not confirmed in the available reporting.
What the comparison does establish is competitive pressure in leveraged crypto ETF design, with issuers escalating from 2x to 3x exposure. That trend mirrors broader institutional interest in the category, seen in moves such as JPMorgan raising its Bitcoin and Ether ETF positions in the second quarter.
Product expansion is not limited to leverage. Issuers have also been widening the range of underlying assets, with Grayscale moving to register Cardano and Hedera ETFs in Delaware.
Cboe's filing now sits with the SEC, and approval timing, tickers and launch dates were not specified in the available documentation.
Additional source references: source document 1.
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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