The SEC approved exchange-listing rules on Oct. 2 for proposed 3x Bitcoin and Ethereum funds from VS Trust. The funds target three times their benchmark's daily return before fees and expenses, not three times the return over longer holding periods. Daily exposure adjustments can leave shareholders with losses even if Bitcoin returns to the investor's entry price. VS Trust's Oct. 7 amended filing lists a 1.85% annual management fee for both products and says the funds have not begun trading. The issuer warns that shareholders could lose their entire investment in one day or overnight.