According to the source, Defiance submitted a prospectus to the U.S. SEC outlining 49 exchange-traded funds that would offer leveraged exposure to Bitcoin (BTC) funds and crypto-related equities (source: Defiance ETFs prospectus filed with the U.S. SEC). For traders, leveraged ETF structures reset daily and can magnify gains and losses, often increasing intraday volatility and end-of-day rebalancing flows that can influence underlying markets and referenced funds (source: U.S. SEC Investor Bulletin on Leveraged and Inverse ETFs). If these products progress through review, monitor trading in the referenced Bitcoin funds and crypto equities around the close for potential volume spikes tied to daily leverage targeting (source: U.S. SEC Investor Bulletin on Leveraged and Inverse ETFs; Defiance ETFs prospectus filed with the U.S. SEC).

According to @OnchainDataNerd, Cathie Wood's Ark Invest is actively rebalancing its ETF portfolios by taking profits on significant crypto-related stock holdings. The firm sold 415,855 shares of Circle, the operator of the USDC stablecoin, for approximately $109.6 million, continuing its profit-taking after the stock's 7.5x surge post-IPO. Additionally, Ark offloaded nearly $95 million worth of Coinbase (COIN) shares over the last three trading days as the stock hit a record high above $380, a move dictated by its internal rule to keep any single holding below 10% of an ETF's total value. Concurrently, Ark Invest diversified its holdings by purchasing 319,640 shares of Robinhood (HOOD) for $24.4 million and making a smaller tactical purchase of 4,198 Coinbase (COIN) shares for $1.3 million, signaling strategic reallocation rather than a complete bearish turn on the crypto exchange.