Overview
- Cboe submitted a proposed rule change on August 10 and the SEC published a notice on August 14, which opens the exchange‑rule review window that is typically 45 days and can be extended.
- Volatility Shares is sponsoring a six‑fund suite that includes 3x Bitcoin and 3x Ether ETFs that would use first‑ and second‑month CME futures contracts rather than holding spot crypto.
- The filing asks the SEC for a 19b‑4 exception to Cboe’s generic listing standards because products that target a specified multiple fall outside those standards.
- Each fund would target three times the daily return and reset that exposure every session, so multi‑day returns can diverge sharply from a simple threefold of the asset’s cumulative move.
- The funds would be structured as commodity pools under CFTC oversight, trading cannot begin until the VS Trust’s S‑1 is effective, and no tickers, fees, or launch dates have been set.