Cboe is seeking the Securities and Exchange Commission’s (SEC) blessing to launch exchange-traded funds (ETF) that seeks to provide three times the daily return of Bitcoin and Ether.
The proposed product would have given investors three times the exposure to the price movements of the two big cryptocurrencies. A 3X leveraged ETF, for instance, would seek to record three times the daily return of a benchmark. If Bitcoin rises by 5% on particular day, a similar product would rise by approximately 15%. However, if the price of the cryptocurrency dips by 5%, the leveraged product’s value would plunge by 15%, less expenses, on the same day.
The leveraged ETFs are significantly more volatile than ordinary spot Bitcoin or Ether ETF. They are intended for short-term trading due to their daily reset mechanism. Over a longer period, the performance of these types of ETF tends to diverge significantly from that of the underlying asset due to the daily compounding of returns.
Cboe’s proposal comes at a time when the U.S. crypto ETF market is set to boom. The approval of several crypto ETFs, including those tracking the price of bitcoin, has created a vital link between traditional finance and crypto.
The industry has since moved toward more specialized products, including leveraged and inverse strategies.
If approved, Cboe’s proposed ETFs would provide traders with another regulated way to express short-term views on Bitcoin and Ether. Instead of accessing leverage through a cryptocurrency exchange or traditional margin account, investors could potentially use exchange-traded products.
The products would also further strengthen the integration of crypto assets into conventional financial infrastructure.
However, leveraged ETFs carry significantly higher risks than standard spot ETFs. Rapid price movements can produce large losses, and the daily reset mechanism means investors cannot simply assume that holding a 3x ETF for a month will produce exactly three times Bitcoin or Ether’s monthly return.
Regulatory approval will therefore be closely watched by both the crypto and traditional finance industries. If approved, the products could mark another major step in the evolution of U.S. crypto investment products.
Cboe filed for the first US 3x bitcoin and ether ETFs
The exchange is seeking SEC approval for triple-leveraged products tracking $BTC and ether.
Leveraged crypto ETFs already exist offshore, but no US-listed 3x product has cleared. @Grayscale withdrew three altcoin ETF filings… pic.twitter.com/O15E3v9Rdi
— BSCN (@BSCNews) August 16, 2026
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