*Exchange: Cboe BZX Rule 14.11(e)(4) Commodity-Based Trust Shares — filed Aug 10, published Aug 19, zero comments — approved Oct 2 by Division Trading & Markets delegated authority* $GTC $MOVR $PUMPBTC
- *6 funds, all VS Trust (Volatility Shares LLC sponsor, Wilmington Trust trustee, US Bank custodian): 3x Gold, 3x Silver, 3x Bitcoin, 3x Ether, 3x Crude Oil, 3x Natural Gas — first 3x BTC/ETH ETPs ever in US — previous was 2x BITX + ETHU*
- *How: Daily target 3x performance BEFORE fees — vs benchmark of 1st + 2nd month futures (CME BTC/ETH futures, not spot) — collateral cash — may use later-dated futures / benchmark-linked ETFs / listed options if front contracts unavailable — NOT 1940 Act fund, so no diversification/leverage limits — daily reset → long-term return can diverge even reverse*
- *Catch: Listing rule approval ≠ tradable — Form S-1 still must be declared effective under 1933 Act — SEC order says "No trading shall occur before registration effective" — no ticker/date yet*
- *Analyst: Bloomberg Eric Balchunas "big win for VolShares" — Nate Geraci "3 yrs ago SEC wouldn't approve spot, now 3x levered — wild turn"*
*BREAKING 🚨 SEC clears Cboe BZX to list 6x 3x leveraged ETPs from VolShares VS Trust Oct 2 🚀 First US 3x BTC + 3x ETH (plus gold/silver/oil/gas) — futures-based CME, 3x daily target, not spot — daily reset risk — rule 14.11(e)(4) commodity trust, not 1940 Act — trading NOT yet live, needs S-1 effective 📈 No tickers yet — landmark shift from 2023 spot fight ⚡*
- *6 funds, all VS Trust (Volatility Shares LLC sponsor, Wilmington Trust trustee, US Bank custodian): 3x Gold, 3x Silver, 3x Bitcoin, 3x Ether, 3x Crude Oil, 3x Natural Gas — first 3x BTC/ETH ETPs ever in US — previous was 2x BITX + ETHU*
- *How: Daily target 3x performance BEFORE fees — vs benchmark of 1st + 2nd month futures (CME BTC/ETH futures, not spot) — collateral cash — may use later-dated futures / benchmark-linked ETFs / listed options if front contracts unavailable — NOT 1940 Act fund, so no diversification/leverage limits — daily reset → long-term return can diverge even reverse*
- *Catch: Listing rule approval ≠ tradable — Form S-1 still must be declared effective under 1933 Act — SEC order says "No trading shall occur before registration effective" — no ticker/date yet*
- *Analyst: Bloomberg Eric Balchunas "big win for VolShares" — Nate Geraci "3 yrs ago SEC wouldn't approve spot, now 3x levered — wild turn"*
*BREAKING 🚨 SEC clears Cboe BZX to list 6x 3x leveraged ETPs from VolShares VS Trust Oct 2 🚀 First US 3x BTC + 3x ETH (plus gold/silver/oil/gas) — futures-based CME, 3x daily target, not spot — daily reset risk — rule 14.11(e)(4) commodity trust, not 1940 Act — trading NOT yet live, needs S-1 effective 📈 No tickers yet — landmark shift from 2023 spot fight ⚡*
