The United States took another step toward allowing 3x daily leveraged exchange-traded products tied to crypto and commodities.
The SEC approved Cboe BZX’s proposed rule change through the Rule 19b-4 process, clearing a listing hurdle for these products.
They included 3x Bitcoin [BTC] (BITH), 3x Ethereum [ETH] (ETHK), 3x Gold (GDLU), and 3x Silver (SLVK). The lineup also included 3x Crude Oil (OILY) and 3x Natural Gas (NATX).
Needless to say, this would give investors a regulated exchange-traded vehicle to obtain amplified daily exposure without directly borrowing money or using a crypto derivatives account.
However, because the leverage resets every day, returns over several days can differ significantly.
The Gold ETF puzzle
This comes on the heels of the SPDR Gold Shares (GLD)’s market price rising sharply. However, the ETF’s underlying gold holdings, measured in tonnes, have not increased at the same pace and have even moved lower at certain points.
This suggests that GLD’s price gains are not being driven purely by fresh purchases of physical gold by the ETF.
Then there is also the regional difference in ETF flows wherein European gold ETFs across the UK, France, and Germany have attracted roughly 125 tonnes of cumulative inflows in 2026 through the 30th of September, compared with only around 15 tonnes for U.S. gold ETFs.
The chart above shows European flows accelerating particularly from August onward. Meanwhile, U.S. flows, which had fallen deeply negative during the middle of the year, recovered toward positive territory by September.
U.S. crypto market turmoil
At the same time, the U.S. spot Bitcoin ETFs recorded $119 million in net inflows on the 6th of October. In this, BlackRock’s IBIT accounted for almost the entire inflow with $122 million.
However, the trend was notably different for spot Ethereum ETFs, which recorded $202 million in net outflows on the same day.
According to the figures, the entire ETH ETF outflow came from BlackRock’s ETHA.
However, if we look at the monthly data of October so far, BTC ETFs have recorded a total of $165.59 million in outflows. And, similarly, ETH ETFs also recorded $506.15 million in outflows during the same period.
But AMBCrypto’s recent report on Ethereum staking ETFs turning protocol rewards into an additional source of income for investors raises hope.
Final Summary
- 3x daily leveraged exchange-traded products include Bitcoin, Ethereum, gold, silver, and more.
- European gold ETFs across the UK, France, and Germany have attracted roughly 125 tonnes of cumulative inflows in 2026.
