SEC · U.S. · Bitcoin ETF · CME Group · The Block
Cboe seeks SEC nod for first US 3x bitcoin and ether ETFs
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Cboe BZX Exchange is looking for U.S. Securities and Exchange Commission approval to list a suite of leveraged commodity exchange-traded funds, including 3x daily bitcoin and ether products.
Key facts
- Volatility Shares already offers 2x bitcoin and ether strategy ETFs in the U.S. market
- Cboe BZX Exchange is looking for U.S. Securities and Exchange Commission approval to list a suite of leveraged commodity exchange-traded funds, including 3x daily bitcoin and ether products
- Of note, the funds are designed to operate as "commodity pools," under Commodity Futures Trading Commission oversight, rather than traditional 1940 Act investment companies overseen by the SEC, like
- The filing notes that Volatility Shares LLC will sponsor the funds, which will enter the VS Trust
Summary
Cboe BZX Exchange is looking for U.S. According to the proposed rule change proposal on Friday, the firm is looking to introduce a 3x Gold ETF, 3x Silver ETF, 3x Bitcoin ETF, 3x Ether ETF, 3x Crude Oil ETF and 3x Natural Gas ETF, all of which are aiming to deliver three times the daily performance of its underlying asset primarily by holding futures contracts on CME or COMEX, with cash and cash equivalents as collateral. Generally speaking, highly leveraged funds are designed for short-term, tactical trading by sophisticated investors — not for long-term holding.
Of note, the funds are designed to operate as "commodity pools," under Commodity Futures Trading Commission oversight, rather than traditional 1940 Act investment companies overseen by the SEC, like many ETFs.