Cboe BZX has filed with the SEC seeking an exemption to list six Volatility Shares funds targeting three times the daily performance of Bitcoin, Ethereum, gold, silver, crude oil and natural gas futures traded primarily on CME. These funds cannot use Cboe’s generic listing rules because Rule 14.11(e)(4)(F) explicitly excludes products seeking a multiple of a benchmark, requiring a Section 19(b) filing for case-specific approval. Existing 2x funds have suffered severe losses, with the ETHU ETF showing a -96.15% annualized return since its June 2024 inception and the BITX ETF posting a -78.93% one-year loss, illustrating the compounding effects of daily reset and path dependency. The launch remains contingent on an effective Securities Act registration statement and separate SEC approval of the proposed listing rule before trading can begin.
Source: Read the original article
