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Volatility Shares Seeks SEC Approval for 27 Leveraged ETFs, Including 5x Crypto and Single-Stock Funds

The plan reaches for 5x daily exposure to major coins using futures, swaps and options rather than holding tokens.

Overview

  • New SEC filings dated Oct. 14–15 propose 27 ETFs across 3x and 5x tiers, with a tentative effective date of December 29, 2025 and potential listing on CBOE BZX.
  • Crypto targets include Bitcoin, Ether, Solana and XRP, alongside highly traded equities such as Tesla, Nvidia, Coinbase, MicroStrategy and Alphabet.
  • The funds aim to deliver a multiple of each day’s move using derivatives housed in a Cayman Islands subsidiary, with daily rebalancing and no spot crypto holdings.
  • Analysts warn of acute risks from compounding, volatility decay and higher costs, noting these are tools for short-term, experienced traders rather than buy-and-hold investors.
  • Approval is uncertain as no 3x crypto ETF has been cleared by the SEC, and observers say a federal shutdown could slow review against a backdrop of recent $19 billion crypto futures liquidations.