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 Eric Balchunas, the market is already at 2x AltAlt Season Crypto ETFs even before October, indicating a rapid pickup in leveraged crypto ETF activity. Source: Eric Balchunas on X, Sep 18, 2025. He added that conditions are likely to get increasingly intense into October, signaling heightened risk-taking around leveraged crypto exposures. Source: Eric Balchunas on X, Sep 18, 2025. For traders, leveraged and inverse ETFs are designed for short-term use with daily resets, where compounding can cause multi-day returns to diverge from the underlying, requiring disciplined risk management. Source: SEC Investor.gov, Leveraged and Inverse ETFs. The SEC also warns these products can amplify volatility and losses and are generally not intended for buy-and-hold investors. Source: SEC Investor.gov, Leveraged and Inverse ETFs.