LeverageShares has submitted a proposal for a 2x long ETF linked to Kraken's daily performance, aiming to double the exchange's returns. This ETF, analyzed by Bloomberg's Eric Balchunas, offers leveraged exposure to Kraken without direct crypto asset ownership, targeting experienced traders due to potential amplified losses. The product could appeal to institutional investors and signify progress toward mainstream crypto adoption, though it awaits regulatory approval. Key risks include volatility decay and liquidity issues.