The U.S. Securities and Exchange Commission approved the Cboe BZX rule change (SR-CboeBZX-2026-065) on October 2, 2026, allowing six 3x leveraged products under Volatility Shares to be listed, including 3x $BTC , 3x $ETH , as well as gold, silver, crude oil, and natural gas.
These products are designed as commodity trusts aiming to achieve three times the daily price movement of the reference asset before fees. The Bitcoin and Ethereum products do not hold spot assets; they mainly gain exposure through CME near-month and next-month futures and reset leverage daily. If Bitcoin rises 10% in a day, the corresponding product theoretically rises about 30%; if it falls 10%, it falls about 30%. In volatile markets, daily rebalancing can cause long-term returns to deviate from three times the cumulative price movement of the underlying asset.
This approval places crypto assets alongside traditional commodities in the same 3x leverage order, but sales cannot begin before the registration statement becomes effective. Bitcoin and Ethereum are already highly volatile, and 3x tools will further amplify daily gains and losses, making them more suitable for short-term trading with stop-losses rather than long-term allocation
These products are designed as commodity trusts aiming to achieve three times the daily price movement of the reference asset before fees. The Bitcoin and Ethereum products do not hold spot assets; they mainly gain exposure through CME near-month and next-month futures and reset leverage daily. If Bitcoin rises 10% in a day, the corresponding product theoretically rises about 30%; if it falls 10%, it falls about 30%. In volatile markets, daily rebalancing can cause long-term returns to deviate from three times the cumulative price movement of the underlying asset.
This approval places crypto assets alongside traditional commodities in the same 3x leverage order, but sales cannot begin before the registration statement becomes effective. Bitcoin and Ethereum are already highly volatile, and 3x tools will further amplify daily gains and losses, making them more suitable for short-term trading with stop-losses rather than long-term allocation
