TLDR
- On October 2, the SEC greenlit six triple-leveraged ETFs tracking Bitcoin, Ethereum, gold, silver, oil, and natural gas.
- The cryptocurrency products will gain exposure through regulated futures rather than direct coin holdings.
- Trading cannot commence until Volatility Shares receives effective S-1 registration statements.
- The issuer has not yet disclosed a launch timeline for the new products.
- Daily rebalancing means returns may diverge significantly from three times the longer-term asset movement.
The United States Securities and Exchange Commission has approved the nation’s first triple-leveraged exchange-traded funds offering exposure to Bitcoin and Ethereum. The regulatory green light came on October 2, 2026, following a rule modification filed with Cboe BZX.
JUST IN: The SEC just APPROVED a rule change allowing 3x leveraged ETFs tied to Bitcoin, Ethereum, gold, silver, crude oil and natural gas from Volatility Shares.
The funds would use regulated FUTURES rather than holding the underlying assets directly.
They are NOT trading… pic.twitter.com/SMiqRONgV4
— Coin Bureau (@coinbureau) October 5, 2026
The approval enables Volatility Shares to bring six new 3x leveraged products to market. These offerings will track Bitcoin, Ethereum, gold, silver, crude oil, and natural gas.
The Bitcoin-linked product is anticipated to list under ticker symbol BITH, while the Ethereum-tracking fund will likely trade as ETHK.
How the Funds Will Work
Both cryptocurrency funds will avoid direct ownership of digital coins. Instead, they’ll employ regulated futures instruments, including CME-linked contracts, to deliver approximately three times the daily percentage change of Bitcoin or Ethereum.
If the futures benchmark rises 1% in a single day, the fund should gain roughly 3%, excluding fees and expenses. Conversely, a 1% decline would translate to approximately a 3% loss.
Each fund rebalances its leverage at the close of every trading session. This daily reset mechanism is a defining characteristic of leveraged exchange-traded products.
Due to this rebalancing structure, the products are engineered to deliver triple the daily return exclusively. They’re not intended to replicate three times the performance over weekly, monthly, or annual periods.
Volatility Shares currently operates BITX, a 2x Bitcoin fund. The firm brings existing expertise in managing leveraged cryptocurrency strategies to these newly approved offerings.
Waiting on Registration Before Trading Begins
Despite the SEC’s rule change approval, these funds remain unavailable for trading. Volatility Shares must still obtain effectiveness on its Form S-1 registration documents.
No confirmed timeline exists for this final regulatory step. The issuer has not publicly announced when either fund will become available to investors.
Market observers have highlighted risks associated with the long-term performance characteristics of these instruments. Daily rebalancing can produce counterintuitive results: a cryptocurrency that rises and then falls by equal percentages may still generate outsized losses for the leveraged fund compared to the underlying asset.
As an illustration, if Bitcoin climbs 10% and subsequently drops 10%, Bitcoin itself would decline roughly 1%. A triple-leveraged fund tracking these movements could fall approximately 9% due to compounding effects from daily resets.
A single-day plunge of approximately 33% in the underlying futures contracts could theoretically eliminate the fund’s entire net asset value. This vulnerability explains why these instruments are typically marketed toward short-term traders who monitor positions actively.
Other asset managers have pursued similar triple-leveraged cryptocurrency products. GraniteShares filed for 3x XRP funds earlier in 2026 but encountered regulatory obstacles.
This approval represents one element of expanded regulatory engagement with digital asset products throughout the United States this year. The SEC has also published guidance addressing staking receipt tokens and various digital asset frameworks.
Regulators have been examining rules governing adviser custody of cryptocurrencies and tokenized securities offerings. Submissions from OKX and ICE concerning tokenized NYSE equity shares have progressed under an SEC innovation pilot program.
In parallel developments, the Treasury Department has reversed course on earlier proposals to regulate crypto mixing services. The SEC has also explored potential innovation exemptions for tokenized securities issuances.
Currently, both the 3x Bitcoin and 3x Ethereum funds remain inaccessible to retail and institutional investors. Trading will only commence once registration statements receive formal effectiveness declarations.
The post Volatility Shares Wins Approval for 3x Crypto Futures Funds Tracking BTC and ETH appeared first on Blockonomi.
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This articles is written by : Nermeen Nabil Khear Abdelmalak
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