SEC Approves the Listing of 6 Products with 3x Leverage ETP, Covering Bitcoin, Ethereum, and 4 Traditional Commodities.
Bitcoin and Ethereum ETP will use regulated futures contracts instead of directly holding the relevant assets.
Until the separate Form S -1 registration declaration officially takes effect, these products cannot start trading.
The U.S. Securities and Exchange Commission (SEC) has approved a rule change by Cboe BZX under the Chicago Board of Options Exchange, allowing the listing of 6 new futures-based ETP. These products are designed to track the daily performance of Bitcoin, Ethereum, and four commodities, multiplied by three.
However, although SEC has approved these crypto-related products, investors still need to wait for the final registration to be completed before they can start trading.
SEC Approves 3x Leverage for Bitcoin and Ethereum ETP
On October 2, 2026, SEC approved the listing and trading applications for the related products of VS Trust under Volatility Shares, incorporating crypto assets into the same product series as traditional commodities.
This set of products includes:
- Encrypted asset portfolio: 3x Bitcoin ETF and 3x Ether ETF
- Hard asset product line: 3x Gold and 3x Silver ETP
- Energy product line: 3x Crude Oil and 3x Natural Gas ETP
The goal of these funds is to achieve three times the daily price movement of the underlying asset. In other words, if the underlying asset rises by 1%, the fund may rise by about 3%; if the underlying asset falls by 1%, the fund may also fall by about 3%.
In addition, none of these 6 approved funds will physically hold Bitcoin, Ethereum, precious metal bars, or crude oil barrels. Instead, these products will use regulated futures contracts, where Bitcoin and Ethereum ETP will track the futures prices of CME Group.
"A major victory for Volatility Shares"
Bloomberg analyst Eric Balchunas referred to this approval as a "major victory" for Volatility Shares.
Volatility Shares has previously attracted attention for launching the first 2x leveraged Bitcoin ETF ( BITX ) and 2x leveraged Ethereum ETF ( ETHU ). This new approval means that the company now has the pathway to launch 3x leveraged crypto products.
SEC This time, what was approved were 6 times three-fold leverage ETP under VS Trust of Volatility Shares, covering Bitcoin, Ethereum, gold, silver, crude oil, and natural gas.
Balchunas also pointed out that significant changes have taken place in the encrypted ETF market. Less than three years ago, SEC was still engaged in disputes surrounding the issue of spot Bitcoin ETF.
The product is still waiting for the registration of S-1 to take effect.
However, before these products can start trading, a separate Form S -1 registration declaration must take effect. SEC staff must announce the effectiveness of this registration before the relevant public trading codes can begin to be traded on the brokerage platform.
The current document does not specify the exact date when the S-1 registration will take effect.
