Cboe BZX filed on August 10 for the first US-listed 3x leveraged ETFs on Bitcoin and Ether, with six funds proposed in total. The products, put forward by Volatility Shares, would rely on CME futures contracts rather than underlying assets, requiring an individual approval process lasting 45 to 90 days. The example of BITX, a 2x leveraged Bitcoin ETF that lost 77.58% while Bitcoin fell 43.85%, illustrates the risks of such instruments on highly volatile assets. Seven 2x leveraged Bitcoin ETFs already coexist on the US market, with the SEC having already approved a 2x leveraged XRP ETF in April 2025. Bitfinex analysts estimate total crypto ETP assets could exceed 400 billion dollars by year-end.
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