According to the source, Europe will list 3x leveraged Bitcoin (BTC) and Ethereum (ETH) ETFs amid a broader crypto market drawdown, introducing products that target triple the daily move of the underlying assets. According to the U.S. SEC Investor Bulletin on Leveraged and Inverse ETFs, these funds reset exposure daily and can experience compounding effects and volatility drag, causing multi-day returns to diverge from 3x. According to FINRA Regulatory Notice 09-31, leveraged ETFs are designed for short-term tactical trading and daily rebalancing rather than long-term holding, and they typically carry higher fees and risks than conventional ETFs. According to ESMA Guidelines on ETFs and other UCITS issues, complex leveraged products require prominent risk disclosures in Europe, and may exhibit wider bid-ask spreads and larger tracking differences that traders must consider.