SEC clears 3x bitcoin and ether ETFs

US regulators have cleared the way for the first exchange-traded funds that aim to deliver three times the daily performance of bitcoin and ether. The products, sponsored by Volatility Shares, were approved for listing on the Cboe BZX exchange in early October 2026 after a filing that Cboe submitted in August.

The approval is a notable step for crypto-linked investment products in the United States. Spot bitcoin ETFs arrived in early 2024 and spot ether funds followed later that year; leveraged versions have so far been limited to twice the daily move. The new funds raise that to three times.

How the new funds work

The funds do not hold bitcoin or ether directly. Instead, they mainly use regulated futures contracts to target three times the asset’s return on a single trading day. Every evening the position is rebalanced so that the next day starts again at three times exposure.

That daily reset is the most important detail for anyone looking at these products. Over several days, gains and losses compound. In a steady trend this can amplify returns, but in a choppy market the fund can lose value even if the underlying asset ends up roughly where it started. This effect is often called volatility decay.

Why regulators added strong warnings

The SEC and FINRA have both stressed that the performance of leveraged funds can diverge sharply from their daily target when they are held for longer than one session. Such products are generally designed for short-term trading by experienced investors rather than for long-term saving.

Volatility Shares is not new to the category. It launched the first leveraged crypto ETF in the United States in 2023 and already runs two-times funds on bitcoin and ether. The triple-leverage products extend that range further.

A busy week for crypto regulation

The ETF decision arrived alongside a broader proposal from the Commodity Futures Trading Commission. The CFTC has set out a framework that would create a new licence category for crypto asset markets, based on a 2010 Dodd-Frank provision on margin and financing. Platforms offering leveraged crypto trading would need to register federally unless customers take actual delivery of the assets, for example by holding their own private keys.

The agency’s chairman, Michael Selig, has presented the plan as a way to prevent fraud rather than only prosecute it afterwards, pointing to the collapse of FTX. The proposal is at an early stage, so its final shape could still change.

Market backdrop

The approvals come at a cautious moment for crypto markets. In the same week, spot bitcoin and ether funds recorded outflows while funds tracking XRP attracted fresh money, a reminder that investor interest is spreading across a wider range of digital assets.

What it means

For the wider industry, the decision shows that US regulators are now willing to approve more complex crypto products within existing market rules, as long as risks are clearly disclosed. For individual investors, the message from regulators is equally clear: understand how daily leverage works before using these funds.

What it means for ODIX Pay users

ODIX Pay does not offer ETFs or leveraged products; its app focuses on everyday money services such as international transfers. If you are asking what is a stablecoin, it is a digital token built to keep a steady value, usually one US dollar. In the ODIX Pay app you can buy crypto with a credit card or debit card, choosing the dollar stablecoins USDT or USDC. Availability depends on your country, and every fee is shown before you confirm. See how to buy USDT and USDC with your card.