SEC clears 3x bitcoin ETF: can you buy it?
On 2 October the SEC approved six 3x leveraged products, including one on bitcoin. Why you can't buy them through a European broker, and what daily 3x does to your money.
On 2 October the US Securities and Exchange Commission (SEC) approved six exchange-traded products with triple leverage, including one on bitcoin and one on ether. They come from Volatility Shares and track prices through CME Group futures, not through actual bitcoin. Trading has not started yet. And as a retail investor in Europe, you cannot buy them through a European broker.
What the SEC approved
The six Volatility Shares products cover bitcoin, ether, gold, silver, crude oil and natural gas. Each aims to deliver three times the daily price move. If bitcoin rises 1% in a day, the product rises about 3%. If bitcoin falls 1%, it falls about 3%.
Volatility Shares previously launched the first 2x ETFs on bitcoin (BITX) and ether (ETHU). Trading in the 3x products will only begin once their SEC registration takes effect. No date, ticker or cost percentage has been announced.
Earlier this year the SEC also opened the door to bitcoin ETFs with a return buffer. The US market keeps adding variants.
Why you can't buy them from Europe
Since 2018, every investment product sold to retail investors in the EU must come with a key information document (KID), a short factsheet under the European PRIIPs rules, in a language the local supervisor accepts. US fund providers do not produce one, because US law does not require it. That is why European brokers do not offer US ETFs to retail investors, and that includes these 3x products.
In Europe, exchange-traded crypto products follow other routes, such as the CoinShares fund on Xetra.
What daily 3x does to your money
The leverage applies per day, not over the whole period you hold the product. That makes a big difference when the price moves up and down. A worked example with €100 invested, before costs:
If the price moves in one direction for a few days, the product delivers more than three times the move. If the price swings back and forth, you lose money even when bitcoin ends up almost flat. And if bitcoin falls by a third in a single day, a 3x product is in theory wiped out. Bitcoin often moves hard: by the end of September it had risen 43% in a quarter.
Who this is not for
A 3x product is built for short-term trading, not for holding bitcoin over the long run. If you want bitcoin, buy bitcoin itself, on a platform with a European authorisation; compare them on cost here. How leverage can play out when the market turns became clear in July, when a rate hike in South Korea wiped out $1.45 billion in positions.
Frequently asked questions
Can I buy a 3x bitcoin ETF from a European broker?
No. US ETFs have no key information document under the European PRIIPs rules, and without one, brokers may not sell them to retail investors.
Why do you lose money with a 3x ETF when bitcoin stays flat?
Because the leverage is reset every day. After a fall, the product has to rise further to recover, and with three times the move that effect is three times as large.
When does trading start?
That is not yet known. The SEC has approved the listing, but trading is still waiting on the funds' own registration.
This article is not investment advice. Leveraged products can cost you a lot of money quickly. Sources last checked on 4 October 2026.