- CoinShares has filed to launch three novel ETFs specifically tracking Bitcoin volatility, a first for the ETF market.
- The funds, including base, leveraged, and inverse variants, could begin trading in early June pending SEC approval.
- These products aim to provide a tool for investors to bet on or hedge against swings in Bitcoin’s price volatility.
- The filing was made using the existing Valkyrie ETF Trust II structure acquired by CoinShares last year.
Digital asset manager CoinShares filed an amendment with the SEC this week to register the first ETFs designed specifically to track the volatility of Bitcoin. According to a post-effective amendment and reports flagged by Bloomberg analyst Eric Balchunas on X, the suite includes a base, a leveraged, and an inverse fund. A source told *Decrypt* this provides a “convenient ETF wrapper” to manage risk or profit from Bitcoin’s price swings.
The proposed CoinShares Bitcoin Volatility ETF, ticker CBIX, seeks managed exposure to futures on the CME CF Bitcoin Volatility Index (BVX). This index measures the 30-day implied volatility of Bitcoin options, functioning as a crypto equivalent to the traditional market’s VIX. Investors can find the current BVX value through its published CF Benchmarks data.
Consequently, the leveraged variant would amplify moves in the Bitcoin Volatility Index for targeted bets. Meanwhile, the inverse fund allows investors to profit when Bitcoin’s market volatility decreases. Management fees remain unspecified, indicating the filing is still in preliminary stages.
CoinShares utilized the shell of the Valkyrie ETF Trust II it acquired in March 2024 to expedite the registration process. The 75-day effective period began on March 23, meaning these pioneering funds could launch by early June if the SEC raises no objections.
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