Cboe has filed with the U.S. Securities and Exchange Commission to list what would be the first U.S. 3x leveraged Bitcoin and Ethereum ETFs, a proposal that would push domestic crypto exchange-traded products into a new tier of amplified, high-risk exposure.
The exchange submitted the rule change through its BZX listing venue, seeking permission to list and trade shares of the proposed products, according to the SEC filing. The corresponding rule filing is documented on Cboe’s pending rule filings page.
The central hook is that no U.S.-listed product currently offers triple-leveraged exposure to either Bitcoin or Ethereum, making this a first-of-its-kind application that combines leverage with spot crypto interest. The move was reported by The Block. For related coverage, see Cboe Seeks SEC Approval for First U.S. 3x Bitcoin and Ether ETFs.
WHAT TO KNOW
- Cboe is seeking SEC approval to list the first U.S. 3x leveraged Bitcoin and Ethereum ETFs.
- A filing is a request, not an approval; the products cannot trade unless the SEC signs off.
How 3x Leveraged Bitcoin and Ethereum ETFs Would Work
A 3x leveraged ETF is designed to deliver three times the daily performance of its underlying asset. If Bitcoin rises 1% on a given day, a 3x product targets a 3% gain, and losses are magnified by the same multiple. For related coverage, see XRP ETF Hits 2026 Weekly Record While Bitcoin and Ethereum Bleed.
That differs sharply from a standard spot crypto ETF, which aims to track the price of Bitcoin or Ethereum roughly one-to-one. Leveraged products use derivatives to amplify exposure, a structure other issuers such as Volatility Shares describe as built for short-term, tactical trading rather than buy-and-hold investing in their product FAQ. For related coverage, see Crypto ETFs Surge: Bitcoin, XRP, Solana Dominate U.S. Filings.
Because the leverage resets daily, these funds are explicitly high-risk and are not intended as long-term holdings, a distinction that has previously drawn attention when firms like Strive and Tuttle filed for a leveraged Bitcoin ETF. For related coverage, see CFTC Targets December 2025 for Leveraged Crypto Trading Launch.
Why the Filing Matters for the US Crypto ETF Market
A first-of-its-kind leveraged filing signals a potential expansion of the product types available to U.S. crypto ETF investors, moving beyond the spot Bitcoin and Ethereum funds already trading. By naming both assets, Cboe’s proposal reaches further than a single-ticker launch.
The application also lands amid a broader wave of crypto ETF activity, including a surge in U.S. filings spanning Bitcoin, XRP and Solana, and follows regulatory momentum around leveraged crypto exposure such as the CFTC’s push toward leveraged crypto trading.
Approval is not guaranteed. The SEC must review the rule change before any product can list, and the filing itself does not confirm a launch date or a final decision.
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.