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.