SEC Clears 3x Leveraged Bitcoin and Ethereum Funds for Trading

Key Summary

The US Securities and Exchange Commission (SEC) has cleared six 3x leveraged Bitcoin and Ethereum funds for trading on a US exchange. The Cboe exchange was granted approval on October 2 to list these funds, which triple the daily performance of futures contracts on the respective assets. The SEC's decision follows previous warnings on leverage above 2x and a request to avoid 5x products. The approved funds track the daily price moves of Bitcoin, Ethereum, gold, silver, crude oil, and natural gas. No launch date has been set for the funds.