WashingtonThe US approved its first 3x leveraged crypto funds on 2 October.

Until then, American crypto funds were capped at 2x leverage.

Each of six Volatility Shares funds targets 3 times its asset’s daily return, with the crypto funds holding regulated futures, not tokens.

“Leveraged ETFs are for trading, not investing,” said Eric Balchunas, Bloomberg’s senior ETF analyst.

The funds cannot trade until regulators declare the issuer’s registration effective, and the order sets no deadline.

How each outlet framed it
CoinDesk
reports first U.S. approval of 3x crypto leverage (prior cap 2x), includes Bloomberg analyst warning that leveraged ETFs are 'for trading, not investing'

Sources: CoinDesk