Cboe Files With SEC to List First U.S. 3x Bitcoin and Ethereum Futures ETFs

Cboe is asking U.S. regulators to greenlight a new wave of leveraged crypto ETFs, this time targeting 3x exposure to Bitcoin and Ethereum futures—an escalation beyond the 2x leveraged products already trading. According to a rule-change filing posted on SEC.gov, Cboe BZX Exchange has submitted a proposal to the U.S. Securities and Exchange Commission to list and trade ETFs designed to deliver three-times leveraged exposure to Bitcoin and Ethereum futures. The proposed funds would gain their exposure through leveraged futures positions rather than holding spot Bitcoin or Ethereum, setting them apart from the spot crypto ETFs that make up most current U.S. listings. If approved, the ETFs would be the first U.S.-listed 3x Bitcoin and Ether ETFs, The Block reported. SEC approval is the key hurdle, as leveraged futures ETFs require the agency's signoff before they can begin trading. Cboe has remained a frequent venue for crypto-linked ETF activity. The exchange has previously sought SEC approval for products including an Invesco Galaxy Solana ETF and has also been involved in efforts to list a 21Shares XRP ETF. The timing of the 3x push comes as issuers point to demand signaled by Volatility Shares' existing 2x Ethereum fund, ETHU, which the firm lists as currently trading. Market participants often see successful lower-leverage products as a catalyst for higher-leverage entrants, raising competitive pressure among issuers. For traders, a 3x structure would magnify both upside and downside relative to a 2x product, making the SEC's posture toward higher-leverage crypto futures ETFs the pivotal question. Leveraged crypto offerings have expanded in the U.S. alongside broader market developments, including the CFTC's decision to authorize margin trading for Bitcoin and Ethereum. 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.