CoinShares Files for Bitcoin Volatility ETF Suite, Targeting BTC Price Swings
CoinShares has filed an amendment to register three new ETFs tracking Bitcoin volatility: the CoinShares Bitcoin Volatility ETF, Bitcoin Volatility Leveraged ETF, and Bitcoin Volatility Inverse ETF. These funds aim to give investors direct exposure to Bitcoin's volatility, rather than just its price, by tracking the CME CF Bitcoin Volatility Index (BVX), which measures implied 30-day volatility in Bitcoin options. The main ETF (CBIX) plans to hold volatility-linked instruments, such as futures contracts, swaps, and options, since the index itself is not investible. The leveraged and inverse ETFs allow investors to amplify or hedge against volatility movements. This would be the first U.S. ETF suite specifically focused on Bitcoin volatility, using the existing Valkyrie ETF Trust II structure, which CoinShares acquired in March 2024. If approved by the SEC without delays, trading could begin as early as June 2024. No management fees or ticker symbols (besides CBIX) have been disclosed.
