European investors will soon have 3x leveraged short and long options for Bitcoin and Ethereum on the SIX Swiss stock exchange. Amid market volatility, both assets have seen weekly plunges of 11.8% and 12.5%, respectively.

Leverage Shares is launching 3x and -3x Bitcoin and Ethereum ETFs in Europe, offering riskier investment opportunities. These products aim to provide boosted returns based on the activity of the tracked asset. Other global offerings provide up to 5x leveraged ETF products on various cryptocurrencies.

21Shares unveiled a 2x leveraged Dogecoin ETF, allowing investors to take a long position on the meme coin. These launches follow a record-breaking $19 billion crypto liquidation cascade that started on October 10, contributing to the recent market downturn.

Perps trading and leverage products on-chain have grown in popularity, potentially posing a risk to the long-term health of the market. Industry experts are concerned about systemic risks associated with leveraged exchange traded products and on-chain leverage products.

Bitcoin and Ethereum have experienced significant price drops in the past week, with Bitcoin trading at $84,065 and Ethereum at $2,731. Bitcoin hit a seven-month low at nearly $81,000 on Friday, leading to over $2.2 billion worth of crypto liquidations.

Read more at Yahoo Finance: Europe Will Get Risky 3x Leveraged Bitcoin, Ethereum ETFs as Crypto Markets Melt Down