The SEC just dropped a major update on October 2, approving a rule change that lets the Cboe exchange list six new funds designed to deliver triple the daily price action of Bitcoin, Ethereum, gold, silver, crude oil, and natural gas. These products come from Volatility Shares—the same team behind existing 2x crypto ETFs. These will trade on Cboe's BZX Exchange just like your favorite stocks. ## The Degen Trap Before you go dumping your bags into these, keep it real: leveraged funds aren't built for long-term holding. They use debt and complex financial tools to chase 3x gains, but there is a major catch. That "3x" promise only applies on a daily basis because these funds reset every single day. If you try to hold them for weeks or months, the math gets messy fast. Because of the way daily resets work, volatility can destroy your capital even if the underlying asset stays flat. If Bitcoin drops 10% one day and jumps 10% the next, you aren't back to even—you’re lowkey down 9%. Both the SEC and FINRA have dropped warnings that long-term results for these products can look nothing like their daily targets. ## Why This Matters The SEC didn't make this easy; Cboe had to get specific approval for these because their fast-track rules usually block funds chasing these types of multiples. While the agency is opening the door, they’re leaning on existing "guardrails" like Regulation Best Interest, which forces brokers to actually look out for their retail clients. Plus, FINRA is keeping the heat on with strict margin rules for anyone trying to trade these. There is no official launch date yet, as each fund still needs its registration statement to become effective. Real talk: these are volatile tools, not a passive investment play. Always do your own research and remember—this is definitely not financial advice.