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Cboe seeks SEC approval for 3x bitcoin and ether ETFs

The exchange also filed to list 3x ETFs tied to gold, silver, crude oil, and natural gas using CME or COMEX futures.

Reported · Written up by our desk · Regulation

The Block reports that Cboe BZX Exchange has filed a proposed rule change with the U.S. Securities and Exchange Commission to list and trade 3x-leveraged bitcoin and ETH exchange-traded funds, which would be the first of their kind in the United States if approved.

Alongside 3x crypto products, the filing would add 3x Gold, 3x Silver, 3x Crude Oil, and 3x Natural Gas ETFs. The funds are designed to target three times the daily performance of their underlying commodities primarily through futures contracts traded on CME or COMEX, with cash and cash equivalents as collateral.

According to the proposed rule change, the 3x leveraged structure requires a special filing because the exchange’s generic listing standards bar leveraged products. The sponsor expects to adjust the number of benchmark futures contracts held to align with purchases, redemptions, and changes in the benchmark value to meet the daily objective.

The Block also notes the funds are intended to operate as commodity pools under Commodity Futures Trading Commission oversight rather than as traditional 1940 Act investment companies overseen by the SEC, reflecting their derivative-based approach and short-term tactical design.

Latest closeGold $4,432.00 ▲1.6%|Silver $64.83 ▼0.1%|WTI crude $82.40 ▲1.4%

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