SEC Approves 3x Leveraged Bitcoin and Ether ETPs for Listing
Bitcoin (BTC)
Editor:
Eugene Serbin
theccpress.com reports that the U.S. Securities and Exchange Commission has approved proposed rule changes allowing 3x leveraged Bitcoin and Ether exchange-traded products to be listed on U.S. exchanges. This regulatory development expands the range of crypto derivatives available to American investors, covering triple-leveraged products tracking Bitcoin, Ether, and potentially other digital assets. Listing approval grants exchanges permission to apply for these products but does not guarantee immediate trading availability, as issuers must still finalize documents and set launch dates.
This move follows the regulator's previous approval of ProShares Trust’s XRP futures ETF, signaling increasing openness to structured crypto investment vehicles. A 3x leveraged ETP targets three times the return of its benchmark, meaning a 5% rise in Bitcoin results in a 15% gain for the product. Conversely, a 5% drop leads to a 15% loss, making these instruments suitable for short-term tactical use rather than buy-and-hold strategies.
The approval brings U.S. crypto ETP offerings closer to parity with traditional leveraged equity products that have traded for years. Issuers now face a competitive race to determine which will move first, on which exchanges, and at what expense ratios. Traders should watch for formal exchange notices and filed prospectuses before treating specific leveraged ETPs as available. This development marks a significant step in the rapid expansion of the crypto ETP market since the launch of spot Bitcoin funds.
How the market reacted
Whalio's own Binance spot order flow for BTC, measured when this story was written up on 3 October 2026. Not the outlet's figures.
Bitcoin is trading at $84,518.01 with a 1-hour buy ratio of 48.9% and a 4-hour buy ratio of 49.5%, indicating balanced but slightly leaning buying pressure in the short term. Over the past 24 hours, the buy ratio drops to 44.0%, suggesting that buying momentum has faded compared to the immediate past. The 1-hour volume delta is -$626,013 and the 4-hour delta is -$753,446, showing net selling pressure in the very short term. However, the 24-hour volume delta is -$272,942,138, with a cumulative volume delta of -$205,826,316 at the close, indicating substantial net selling over the day. Spot volume reached $2,268,231,876 across 3,801,781 trades, with net buying occurring in only 9 of the 24 hours. This data suggests that while short-term sentiment is near even, the broader daily trend is dominated by sellers.
The latest daily buy ratio of 46.7% sits at the 18th percentile of the last 322 days, against a median of 49.2% - weaker buying than most days.
Was that an ordinary day?
The same Binance spot measurements for BTC, averaged over the days leading up to the story.
Over the preceding week, the average buy ratio was 48.3%, making the current 24-hour ratio of 44.0% a 4.4 percentage point decline from the norm. This day is unusual compared to the weekly average, characterized by a volume that is 1.79 times the average despite only 1 of 7 days showing net buying. The total volume delta for the 8-day period was -$594,902,534, contrasting with the single-day delta of -$272,942,138. Price change over the 8 days was +0.5%, showing minimal movement despite the high volume and negative delta. This indicates that the recent selling pressure has been significant enough to offset buying interest over the longer timeframe.