The U.S. Securities and Exchange Commission approved Cboe BZX’s proposed rule change for VS Trust’s 3x Bitcoin ETF and 3x Ether ETF on 2026/10/02 through Release No. 34-106577 for File No. SR-CboeBZX-2026-065. The order covers six VS Trust commodity-based trust products, including the crypto-linked tickers BITH and ETHK. That approval cleared the exchange-listing step, but it did not by itself establish that the separate registration process was effective or that trading had begun by 2026/10/04.

SEC approval covered Cboe BZX’s listing rule change

The SEC approved Cboe BZX’s proposed rule change to list and trade six VS Trust products, including the 3x Bitcoin ETF and 3x Ether ETF. The formal action was Release No. 34-106577 tied to File No. SR-CboeBZX-2026-065, and the order was issued on 2026/10/02 under BZX Rule 14.11(e)(4), the exchange’s Commodity-Based Trust Shares framework.

That distinction matters because the SEC did not issue a broad approval for all future leveraged crypto products. It approved one named exchange filing covering six specific VS Trust products: gold, silver, bitcoin, ether, crude oil and natural gas. The VS Trust registration statement on Form S-1 also tied the crypto products to the proposed symbols BITH and ETHK, which helps separate formal product identity from headline shorthand. The unresolved question then becomes whether listing approval also meant the products were ready to be sold and traded.

BITH and ETHK still needed registration effectiveness

The Oct. 2 order did not automatically make BITH and ETHK live for trading because the exchange-listing process and the securities registration process are separate steps. Cboe BZX filed the proposed rule change on 2026/08/10, the SEC published that filing for comment in the Federal Register on 2026/08/19, and VS Trust separately filed its Form S-1 on 2026/08/17.

That sequence shows two parallel tracks. One track determines whether the exchange can list the shares under Exchange Act rules. The other determines whether the securities can be offered once the registration statement becomes effective. The reviewed official materials confirmed the first track had been completed through the SEC’s Oct. 2 order, but they did not establish a declared-effective S-1, a final launch filing, or a Cboe BZX trading commencement notice by 2026/10/04.

For readers searching when BITH and ETHK can actually begin trading, the practical answer is that the SEC cleared the listing-rule hurdle, but the launch date still depended on later registration and exchange steps not shown as completed in the reviewed record. The significance of the news is procedural clarity: a leveraged crypto futures product moved meaningfully closer to market, yet it had not clearly crossed the final public-launch threshold in the same set of documents.