According to the source, Defiance proposed new 3X leveraged funds offering exposure to Bitcoin (BTC), Ethereum (ETH), and crypto-focused stocks. source: source post For traders, 3X leveraged funds are designed to target three times the daily return of a benchmark and can exhibit significant volatility and compounding effects suitable primarily for short-term trading. source: SEC Investor Bulletin on Leveraged and Inverse ETFs Daily rebalancing in these products creates path-dependent returns that can diverge from the underlying over holding periods longer than one day, especially in volatile markets. source: SEC Investor Bulletin on Leveraged and Inverse ETFs