The U.S. Securities and Exchange Commission has opened a public comment period on a Cboe BZX Exchange proposal to list a 3x leveraged Bitcoin and Ethereum ETF, moving the high-risk product in
The U.S. Securities and Exchange Commission has opened a public comment period on a Cboe BZX Exchange proposal to list a 3x leveraged Bitcoin and Ethereum ETF, moving the high-risk product into formal regulatory review without signaling any decision on approval.
The filing, submitted by Cboe BZX Exchange, was published as a notice of proposed rule change in the Federal Register, the step that formally opens the matter to public feedback. For related coverage, see Stablecoin Backed by BlackRock and Visa to Launch on Ethereum.
A comment period lets investors, issuers, and market participants submit written views before the SEC rules on whether the listing may proceed. The rule filing docket (SR-CboeBZX-2026-065) tracks the review. For related coverage, see Flowra Opens Solana Block Building to Competitive MEV Auctions.
Opening comments is a procedural step, not an endorsement. The SEC solicits feedback specifically because it has not yet decided whether the product satisfies the standards required to list. This mirrors the same feedback process regulators use elsewhere, such as when the Treasury opened public feedback on stablecoin rules. For related coverage, see Solana, Zcash, Bitcoin Price Analysis for July 30: SOL, ZEC, BTC Test Support.
The proposed fund targets 3x leverage, meaning it aims to return three times the daily move of its underlying exposure. A 1% gain in the reference assets would target roughly a 3% fund gain, and a 1% decline would target a comparable loss.
The structure references both Bitcoin and Ethereum, combining the two largest crypto assets into a single leveraged vehicle rather than tracking one coin. Cboe first disclosed the plan when it filed to list the 3x Bitcoin and Ether ETFs.
Leverage amplifies losses as sharply as gains. Existing 2x crypto funds have suffered drawdowns of up to 96%, per CryptoSlate reporting, underscoring the risk profile of pushing to a higher multiple.
A leveraged dual-asset product would broaden the range of regulated crypto exchange-traded products beyond the spot and single-multiple funds currently listed. That widens the toolkit available to traders seeking amplified directional exposure inside a regulated wrapper.
How the SEC handles this filing may serve as a reference point for future leveraged crypto ETF proposals. Issuers watching the docket will read the outcome as a signal on the agency's tolerance for higher-multiple crypto exposure.
Market participants should track the comment period deadline and the SEC's subsequent action dates published in the filing, which mark the next concrete catalysts in the review process.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.
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