US Treasury Targets Section 351 ETF Conversions
The US Treasury and IRS have challenged a specific use of Section 351, which can allow investors to contribute securities to a new ETF without immediately…
The SEC has approved a Cboe BZX rule change to list and trade six Volatility Shares products targeting 3x daily exposure to Bitcoin, Ether, gold, silver, crude oil and natural gas. The lineup includes the 3x Bitcoin ETF and 3x Ether ETF, which are designed to gain exposure through derivatives rather than holding crypto directly. The October 2 approval covers the exchange-listing framework, but the products cannot begin trading until their separate registration statements become effective. The decision would expand the U.S. leveraged ETP market beyond Volatility Shares’ existing 2x Bitcoin and Ether products and into 3x daily crypto exposure.
Source: SEC Filings
The US Treasury and IRS have challenged a specific use of Section 351, which can allow investors to contribute securities to a new ETF without immediately…
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