European investors can already get their hands on 3x leveraged Bitcoin and Ethereum ETFs. LeverageShares was the first issuer to bring this product to market, with the world's first 3x bitcoin ETF and 3x ether ETF both listed in Europe.

Now it's the US's turn to catch up. Cboe has officially filed with the SEC, seeking to introduce the same-spec 3x leveraged Bitcoin and Ethereum ETFs. If approved, this would mark the first time such products appear in the US market—not a world first, but a US first.

The sequence is worth noting: the product landed in Europe first, then came knocking on US regulators' door—that path itself is the key point of this story. The filing is still pending SEC review, with approval timing and specific terms yet to be determined.