Overview

• The Oct. 14 filing covers 27 funds spanning Bitcoin, Ethereum, Solana, and single-stock ETFs tied to names such as Tesla, Nvidia, Coinbase, and MicroStrategy.
• The proposed products aim to deliver 3x to 5x the underlying asset’s daily performance using derivatives including futures, swaps, and options.
• Volatility Shares lists CBOE BZX as a potential venue and sets a tentative effective date of December 29, 2025, subject to regulatory clearance.
• Bloomberg’s Eric Balchunas characterized the 5x request as especially bold given the absence of any SEC-approved 3x crypto ETFs to date.
• The firm flags elevated risk from magnified moves, potential volatility decay in choppy markets, and higher expected expense ratios compared with standard ETFs.