CoinShares Files Standard, Leveraged, Inverse Bitcoin Volatility ETFs with 75-Day Timer
CoinShares filed amendments to register three Bitcoin volatility ETFs—standard, leveraged and inverse variants—under the Valkyrie ETF Trust II shell, marking the first funds to track the CME CF Bitcoin Volatility Index (BVX). The 75-day effective period began March 23, setting up a potential early-June launch with fees still unlisted.
1. Filing Details
CoinShares submitted a post-effective amendment with the SEC via the Valkyrie ETF Trust II shell to register three Bitcoin volatility ETFs: a standard fund, leveraged fund and inverse fund. This marks the first suite of U.S.-listed ETFs explicitly tracking the CME CF Bitcoin Volatility Index (BVX).
2. ETF Structure and Exposure
The CoinShares Bitcoin Volatility ETF, slated to trade under the CBIX ticker, will gain exposure through futures contracts on the 30-day BVX, alongside volatility-linked swaps, options and equity shares in correlated companies, since the BVX itself is non-investible. The leveraged variant will amplify BVX moves, while the inverse ETF allows investors to profit from declines in implied volatility.
3. Timeline and Fees
The SEC’s 75-day effective period began March 23, paving the way for potential ETF listings in early June if no delays occur; management fees remain undisclosed. CoinShares is leveraging the existing Valkyrie ETF Trust II registration, acquired in March 2024, to expedite market entry without launching a new trust.