regulation and policy

SEC Clears Cboe to List Volatility Shares’ 3x Bitcoin and Ether Funds

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On Oct. 2, the SEC approved a Cboe BZX rule change that clears the exchange to list six Volatility Shares ETFs, including funds tied to bitcoin and ether. The lineup also includes products linked to gold, silver, crude oil and natural gas, and trading still awaits effective registration statements.

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Key claims & sources

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On Oct. 2, the SEC approved a Cboe BZX rule change that clears the exchange to list six Volatility Shares ETFs, including 3x bitcoin and 3x ether funds.
SEC Clears Cboe to List Volatility Shares’ 3x Bitcoin and Ether Funds
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The six-fund lineup also covers triple-leveraged products tied to gold, silver, crude oil and natural gas.
SEC Clears Cboe to List Volatility Shares’ 3x Bitcoin and Ether Funds
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Before this approval, U.S. crypto funds had been capped at 2x leverage.
SEC approves a 3x fix for bitcoin and ether traders who miss the wild swings
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The SEC’s approval lets the funds be listed on a U.S. exchange, but trading is still waiting on effective registration statements.
SEC Approves 3x Bitcoin and Ethereum ETFs for Trading
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The order covers 3x gold, 3x silver, 3x bitcoin, 3x ether, 3x crude oil and 3x natural gas ETF shares under Cboe BZX Rule 14.11(e)(4).
Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Order Granting…

What it means

Bitcoin and ether traders, along with buyers of the other four funds in the lineup, will notice that Cboe now has approval to list the products, while the funds are still not trading yet. That means the exchange-side step has been cleared, but the market-facing launch is still pending effective registration statements.

What remains open is the launch timing and which of the six funds will begin trading first. The available detail only shows that the SEC approved the Cboe rule change and the listing order; it does not show when the registration statements become effective or when the exchange opens trading.

Market reaction i

BitcoinBTC the event is about this asset
first headline
-0.6% 2 h before
+0.2% 4 h after
$85,886price at publication
11data points

The move was larger before the first headline than after. That is an observation, not an explanation: the market also moves on things nobody publishes.

Coverage timeline

Every piece in order, with the time its news medium declares — if it is not believable we use ours and say so — and what it added to what was already known at that point. Arriving first is not the same as adding something.

first
Oct 5 09:38
+1 h 36 m
Oct 5 11:14
CoinDesk context
Its angle: underlying, mechanical, investing; with quotes
+8 h 34 m
Oct 5 18:12
+1 d 6 h
Oct 6 16:00
The Coin Republic echo
No new facts: cryptocurrency, requirement, immediately
+1 d 19 h
Oct 7 05:05

Has this happened before?

WhenWhat happenedFigure
34 days ago SEC approves 3x leveraged Bitcoin and Ether ETPs, but trading has to wait event 3 actors in common · 5 news media
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34 days ago South Africa’s Absa Becomes First Bank on the Continent to Custody Bitcoin: Report event 1 actors in common · 5 news media
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