SEC Approves Listing of 3x Bitcoin ETF and 3x Ether ETF on Cboe BZX
The SEC approved Cboe BZX’s proposal to list six VS Trust products, including funds offering three-times-daily exposure to bitcoin and ether futures.
The U.S. Securities and Exchange Commission (SEC) approved Cboe BZX’s proposal to list six VS Trust products on October 2, 2026. They include the 3x Bitcoin ETF and 3x Ether ETF from Volatility Shares. The decision concerns exchange-listing rules, not confirmation that the funds are already trading.
What the SEC approved
The SEC approved Cboe BZX’s proposal to list six VS Trust products. The approved package includes funds designed to target three times the daily performance of the relevant bitcoin and ether benchmarks.
The approval clears the way for these exchange-traded products to be launched on a U.S. exchange. However, the decision does not determine the exact start of trading. The funds’ final tickers have also not been confirmed in the available materials.
3x Bitcoin ETF uses futures, not direct bitcoin
The products are not intended to provide exposure through direct ownership of spot bitcoin. According to the registration statement, they are expected to use primarily bitcoin futures contracts and related instruments. An analogous approach applies to the product linked to ether.
The “3x” designation does not mean the fund will deliver exactly three times the change in the cryptocurrency’s spot price over the long term. The goal is three times the daily performance of the tracked benchmark. When held for multiple days, the result may differ significantly from this ratio, especially during periods of higher volatility.
Why leveraged funds are different
Daily rebalancing of exposure means the fund’s return is affected by the sequence of daily market movements, not just the difference between the price at the beginning and end of the period. Results may also be affected by costs associated with rolling futures contracts and the difference between the futures price and the spot price of bitcoin or ether.
The decision therefore expands the range of U.S. exchange-traded instruments offering highly leveraged exposure to cryptocurrency futures. These products have a different structure from funds that hold cryptocurrencies directly.
What has not yet been confirmed
The exact date when the approved funds will begin trading, as well as their final exchange symbols, fees and complete set of disclosed risk documents, is not known. The effectiveness of the registration statement will also be important before launch.
There is also no independently confirmed evidence that any bitcoin price move above $85,000 was specifically related to this SEC decision. When assessing the market’s reaction, it will be relevant to monitor any changes in bitcoin futures and spot-market volumes after trading begins.
Sources
- U.S. Securities and Exchange Commission – Confirms the SEC’s October 2, 2026, decision approving Cboe BZX’s proposal to list the 3x Bitcoin ETF, 3x Ether ETF and four other VS Trust products.
- VS Trust – registration statement in EDGAR – Describes how the 3x Bitcoin ETF obtains exposure primarily through bitcoin futures rather than direct ownership of physical bitcoin, and outlines the risks arising from the difference between futures and spot prices.
Verified and updated: 10/04/2026 20:09
