The US Securities and Exchange Commission (SEC) has approved the listing of six new leveraged exchange-traded products (ETPs), including products designed to give investors three times the daily move of bitcoin and ether futures.

The decision, announced on October 2, 2026, is a major step for Volatility Shares, the company behind the products. The six ETPs will cover bitcoin, ether, gold, silver, crude oil and natural gas.

However, investors cannot trade the new products just yet. The funds still need their registration statements to become effective before trading can begin. The SEC has not announced when that will happen.

According to Nate Geraci, this is the first 3x leveraged bitcoin futures ETP to ever get approved.

The new Bitcoin product is designed to target three times the daily performance of Bitcoin futures, before fees and expenses.

That means if the Bitcoin futures benchmark rises 1% in a day, the product would aim to rise about 3%. If the benchmark falls 1%, the product would aim to fall about 3%.

The word “daily” is important. The product is not designed to deliver three times bitcoin's return over a month, a year or any other longer period. Its exposure is reset every day.

For example, bitcoin could rise on one day and fall the next. Because the 3x exposure is recalculated each day, the fund's longer-term performance can be very different from three times bitcoin's overall move.

This can become especially important when bitcoin moves sharply up and down without establishing a clear trend.

The new Bitcoin and Ether products will not directly hold bitcoin or eth. Instead, they will use futures contracts. Futures allow investors to gain exposure to an asset's expected price without directly owning the asset.

The Bitcoin product will use futures linked to prices on CME Group markets. This also means the products face some costs and risks that ordinary spot Bitcoin ETFs do not face.

Futures contracts expire, so the funds have to replace them with new contracts. This process is known as rolling the futures and can affect returns over time.

Cboe BZX Exchange filed the proposed rule change on August 10, 2026. The proposal was later published for public comment before the SEC approved it on October 2. The SEC said simply, “This order approves the Proposal.”

The approval is significant because it gives US investors another way to take a leveraged position on bitcoin.

Volatility Shares already offers leveraged digital asset products, including a 2x Bitcoin fund. The company has also introduced other digital-asset-related products.

Bloomberg ETF analyst Eric Balchunas described the latest decision as a “big win” for Volatility Shares.

The new products could attract traders and professional investors who want to make short-term bets on bitcoin's price movements. They could also increase trading activity in Bitcoin futures.

But the products are not designed for everyone.

Because losses are also multiplied, a large bitcoin move in the wrong direction can quickly cause significant losses. The daily reset can also make the products behave very differently from simply holding bitcoin.

Despite the SEC approval, the new products are not trading yet.

The listing approval is only one part of the process. Volatility Shares still needs to have an effective Form S-1 registration statement before the products can begin trading. No specific launch date has been announced.