# SEC clears the path for 3x Bitcoin and Ether products Author: KriptoMeta Editorial Team Language: English Published: 2026-10-04T17:53:08+03:00 Updated: 2026-10-04T17:53:08+03:00 ![Bitcoin and Ethereum symbols reflected across angled mirror panels](https://kriptometa.com/uploads/bitcoin-ve-ether-e-x-onayi-sec-alti-urune-yol-acti-f8f4293ec39d_article.webp) ## Key takeaways - The SEC’s October 2 order approves Cboe BZX’s rule change for six futures-based products. - The Bitcoin and Ether products seek three times their benchmark’s daily performance before fees. - Daily rebalancing can leave a multi-day result far from three times the market’s cumulative return. US leveraged crypto products have cleared another regulatory step. A 3x label, however, does not mean simply tripling Bitcoin’s return over several days. The US Securities and Exchange Commission has approved Cboe BZX’s rule change for six products targeting triple daily exposure, including Bitcoin and Ether. The [October 2, 2026 order](https://www.sec.gov/files/rules/sro/cboebzx/2026/34-106577.pdf) covers listing and trading rules for products within VS Trust, sponsored by Volatility Shares. The 3x target is the eye-catching part for crypto investors. It applies to a single day, however, rather than the entire period an investor holds the product. Leverage magnifies losses as well as gains, and extending the holding period makes the arithmetic less straightforward. ## Six products clear a listing hurdle, not a launch announcement Gold, silver, crude oil and natural gas complete the six-product group. The structure uses futures-based benchmarks, unlike [spot Bitcoin ETFs](https://kriptometa.com/en/glossary/spot-bitcoin-etf) that hold the underlying BTC. Exposure built through futures should therefore not be treated as identical to the [spot Bitcoin price](https://kriptometa.com/en/markets/bitcoin). The order addresses the exchange’s rule change. It does not announce a date when investors can start trading the products; offering documents and a trading launch announcement are separate matters. Approval of a listing route alone does not establish that six new products are available to buy in a brokerage account today. Despite the ETF names, the order treats the products as commodity-based trust shares. They are not registered under the Investment Company Act of 1940. The label alone is therefore insufficient to assume that all exchange-traded products have the same legal structure. ## Why two days of returns cannot simply be tripled The SEC’s [investor bulletin on leveraged products](https://www.investor.gov/introduction-investing/general-resources/news-alerts/alerts-bulletins/investor-alerts/sec) explains the gap between a daily target and a longer holding-period result. With daily rebalancing, the second day’s gain or loss is calculated on the balance left after the first. The path prices take matters, alongside the total change in the benchmark. **Hypothetical calculation, before fees:** A benchmark starting at 100 rises 10% and then falls 10% the next day. It ends at 99, a 1% loss overall. A product starting at 100 that tracks exactly three times each daily move would rise to 130, then lose 30% and finish at 91. Its two-day loss would be 9%, not 3%. This is not an actual fund return or a price forecast. The difference comes from applying each percentage change to a new starting balance. During a period of greater [price volatility](https://kriptometa.com/en/glossary/volatility), a benchmark can return close to its initial level while a leveraged product remains further below its own. Meeting the daily target does not guarantee three times the return over several days. A 3x multiple cannot be read solely as a chance of higher gains. An adverse daily move is magnified too, while costs and deviations from the tracking target also affect the final result. The product has a daily objective and a different risk structure from buying Bitcoin directly. The next concrete developments to watch are the final product documents and the exchange’s trading timetable. In [Bitcoin news](https://kriptometa.com/en/news/bitcoin), an approval headline is only part of the story: the stage it clears matters. The SEC order establishes a listing decision, not a promise about future returns.