Cboe has filed for what would be the first 3x leveraged Bitcoin and Ether exchange-traded fund in the United States, moving to bring highly aggressive crypto exposure to regulated markets and setting up a new approval test for the SEC.
Cboe has filed for what would be the first 3x leveraged Bitcoin and Ether exchange-traded fund in the United States, moving to bring highly aggressive crypto exposure to regulated markets and setting up a new approval test for the SEC.
The Cboe BZX Exchange submitted the rule filing to the U.S. Securities and Exchange Commission for the products, according to the filing document. The filing seeks a listing that would target three times the daily performance tied to Bitcoin and Ether. For related coverage, see Edleman Financial Discloses $34 Million in Bitcoin ETF Holdings.
The proposal was reported as the first U.S. effort of its kind, first covered by The Block. Both Bitcoin and Ether are named directly in the structure, distinguishing it from existing spot crypto ETF coverage.
WHAT TO KNOW
- Who: Cboe BZX Exchange filed the rule proposal with the SEC.
- What: The first proposed 3x leveraged Bitcoin and Ether ETF in the U.S.
Why a 3x structure raises the stakes
A 3x structure signals a far more aggressive product than standard spot ETF coverage, amplifying both gains and losses on daily moves. That leverage changes the risk profile for the underlying assets tracked in the filing.
Cboe’s involvement reflects competitive positioning among exchanges seeking to expand crypto ETF listings. The exchange has been building out its BZX rule filings pipeline for digital-asset products.
The move follows a broader push into specialized crypto funds, including the recent record activity in XRP ETF products. It also sits alongside continued institutional interest in existing vehicles, such as disclosed spot Bitcoin ETF stakes.
A filing does not equal approval. The SEC must review the proposal before any of the leveraged products could reach the market.
What to watch next
The next checkpoint is the SEC’s regulatory review path, which determines whether the filing advances toward a potential launch. Readers tracking the process can follow further details in coverage of Cboe’s push for SEC approval.
Any signals around launch timing will hinge on the review outcome and possible listing conditions. Additional context on the exchange’s plans appears in reporting on the proposed 3x leveraged Bitcoin and Ethereum ETFs.
Traders and ETF watchers will monitor follow-up filings and any SEC responses, which would validate or delay the products.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.
