SEC approves 3x leveraged Bitcoin and Ether ETPs, but trading has to wait
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The SEC approved a Cboe BZX rule change on October 2 that allows Volatility Shares to launch six futures-based ETPs tied to Bitcoin, Ether, gold, silver, crude oil, or natural gas. Those products are designed to target three times the daily performance of their underlying assets, and trading has not started yet.
Key claims & sources
What it means
Users and market participants watching leveraged crypto products will notice that the SEC has approved 3x Bitcoin and Ether ETPs, but the products are not trading yet. That means the approval is on the books now, while access to the products still remains pending.
Compared with before, a Cboe BZX rule change has been approved for Volatility Shares to launch six futures-based ETPs tied to Bitcoin, Ether, gold, silver, crude oil, or natural gas. The part that stays the same is that the products are described as futures-based and aimed at three times the daily performance of the underlying assets.
Market reaction i
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
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Has this happened before?
| When | What happened | Figure |
|---|---|---|
| 37 days ago | Bitwise CIO says Clarity Act failure gave crypto ‘better rules faster’ event | 2 actors in common · 5 news media |
| 35 days ago | SEC moves to clear custody hurdle for advisers offering crypto event | 1 actors in common · 10 news media |
| 36 days ago | SEC Proposes Crypto Self-Custody Route for Investment Advisers event | 1 actors in common · 10 news media |
| 36 days ago | SEC Proposes Crypto Custody Framework for Advisers and Funds event | 1 actors in common · 6 news media |
| 37 days ago | Base Completes Cobalt Upgrade With New Token Compliance Controls event | 1 actors in common · 2 news media |