SEC Approves 3x Bitcoin and Ether ETF Listings, Opens Stock Tokenization Path

The Securities and Exchange Commission approved a plan to list six leveraged exchange-traded products tied to futures for Bitcoin (BTC), Ether (ETH), gold, silver, crude oil and natural gas, while opening a temporary regulatory path for tokenized U.S. stocks.

The order covers six Volatility Shares products designed to deliver triple the daily performance of their respective futures benchmarks. The SEC recorded approval of Cboe BZX’s listing proposal Oct. 2 at 4:18 p.m. ET (20:18 UTC), while trading remains subject to the effectiveness of the products’ registration statements.

Separately, the SEC’s Sept. 17 Innovation Exemption provides temporary, conditional relief for permissioned Tokenized Securities Venues. Those venues may use automated market makers and liquidity pools to trade certain tokenized National Market System stocks, subject to limits on symbols and trading volume.

Issuers can object when third parties tokenize their shares, and the resulting tokens must carry rights equivalent to those of the underlying stocks. OKXICE has posted a notice for a planned tokenized-stock venue, but its approval, launch date and initial stock list have not been confirmed.

The ETF listing decision and tokenization exemption are separate measures. The SEC also proposed crypto custody rules Oct. 1, with comments due Dec. 7.