Cboe has filed an application to launch the first U.S. triple-leveraged Bitcoin and Ethereum ETFs
Cboe has filed an application with the U.S. Securities and Exchange Commission (SEC) to launch what it describes as "the first U.S. triple-leveraged Bitcoin and Ethereum ETFs," a move aimed at bringing a more aggressive form of cryptocurrency exposure to U.S. exchanges.
Content and uniqueness of the proposal
The proposal is currently only in the rule submission stage and has not yet been approved. The amendment document number submitted by Cboe's BZX exchange is SR-CboBZX-2026-065 and is currently awaiting regulatory review. The core product of this application will provide leveraged exposure to Bitcoin and Ethereum, the two largest crypto assets by market value. This combination is in line with the recent development path of the U.S. crypto ETF field. The "first batch in the United States" highlighted in the document is its core proposition, not an independently verified market record. According to the BZX exchange's rule application list, the proposal has officially entered the SEC's review queue.
Why triple leverage crypto ETFs are riskier than ordinary products
A triple leveraged ETF aims to achieve triple the daily return of its underlying asset. If Bitcoin rises by 2% in a single day, the fund's target return is about 6%; if it falls by 2%, the target loss will also increase accordingly. This mechanism amplifies both gains and losses, making them much riskier than ordinary spot funds such as recently launched spot Ethereum products. The proposal reflects the market's demand for more aggressive, faster crypto exposure, rather than another bland product that comes to the market. This is more a story of risk gain than price expectations. The relevant regulatory documents supporting this report do not contain verified price data for Bitcoin or Ethereum, so its significance lies in the product structure itself rather than current market levels.
Possible subsequent decisions by the SEC
Such exchange rule applications are subject to the SEC's clear approval process, which is subject to the agency's self-regulatory organization rule-setting framework and may include public notices, comments, extended review periods, and final approval or rejection. The available evidence cannot predict the probability of approval. The risk factors posed by leveraged crypto products have historically been subject to strict review by the SEC, and the approval time may well exceed the original submission date. Readers interested in this proposal should check out the Cboe BZX filing list and any SEC announcements related to SR-CboeBZX-2026-065. The proposal opens the door, but the SEC still controls whether these highly leveraged crypto products can enter the U.S. market.

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