SEC Opens Public Comment on CBOE Proposal for First U.S. 3x Bitcoin and Ethereum ETFs

The U.S. Securities and Exchange Commission (SEC) has initiated a public comment period on a proposal by CBOE BZX Exchange to list the first leveraged exchange-traded funds (ETFs) in the United States tied to three times the daily returns of Bitcoin and Ethereum. The filing, published by the regulatory body, marks a significant step in the ongoing integration of digital assets into mainstream financial products.

What the CBOE Proposal Includes

CBOE BZX, the equities exchange arm of the Chicago Board Options Exchange, submitted a rule change proposal to list six leveraged ETFs. These include a 3x Bitcoin ETF, a 3x Ethereum ETF, and leveraged funds for gold, silver, crude oil, and natural gas. The leveraged structure aims to deliver daily returns that are three times the performance of the underlying asset, offering traders amplified exposure to price movements.

The SEC’s decision to open the proposal for public comment is a procedural requirement under the Securities Exchange Act of 1934. It allows interested parties—including investors, industry professionals, and academics—to submit feedback on whether the products meet the exchange’s listing standards and investor protection requirements.