The SEC approved Cboe BZX's listing proposal for VS Trust's 3x Bitcoin ETF and 3x Ether ETF on October 2. The Volatility Shares-sponsored products seek three times their benchmarks' daily performance before fees and expenses. The approval clears an exchange-rule hurdle, but registration effectiveness and a first trading date remain unconfirmed as of October 4. The funds use futures rather than tracking spot prices alone. The products lack the investor protections associated with funds registered under the Investment Company Act of 1940. SEC staff warn that leveraged Bitcoin-futures strategies increase volatility and can expose investors to significant, sudden losses.