US-based ETF issuer Volatility Shares has filed with the SEC to launch new exchange-traded funds offering five times leveraged exposure to Bitcoin (BTC), Ethereum (ETH), and XRP.
Crypto-focused ETF issuer Volatility Shares has applied to the US Securities and Exchange Commission (SEC) to launch a series of 5x leveraged ETFs tracking the daily price movements of Bitcoin (BTC), Ethereum (ETH), and XRP. The proposed funds aim to multiply daily returns—and losses—by five, offering traders high-risk, high-reward exposure.
The filing also includes products tied to Solana (SOL) and volatile equities such as Coinbase (COIN), MicroStrategy (MSTR), Tesla (TSLA), and Alphabet (GOOGL). In total, 27 ETF products were listed, spanning both 3x and 5x leverage tiers, with an effective start date of December 29, 2025. Bloomberg ETF analyst Eric Balchunas commented, “Volatility Shares is already aiming for 5x leverage before 3x XRP ETFs even get approved.”
Analysts warn that such products carry significant risk. Because the leverage resets daily, investors may face compounding losses during volatile markets. Even if Bitcoin ends the week higher, intraday swings could cause the 5x ETF to underperform. The filing comes as the market attempts to recover from $19 billion in crypto liquidations, reigniting debate over the regulatory boundaries of leveraged crypto investment products in the US.
