SEC approves listing rules for VS Trust's 3x Bitcoin and Ether futures ETFs

• —SEC approved listing rules for 3x Bitcoin (BITH) and 3x Ether (ETHK) futures ETFs from VS Trust
• —Products are structured as commodity-based trust ETPs, without 1940 Act investor protections
• —Each targets 3x the daily return of a futures portfolio and rebalances daily
• —SEC warned that returns can deviate sharply from the stated multiple over longer periods