Defiance plans to launch a dual short leveraged ETF fund, betting on a decline in volatility

According to The Block, Defiance ETFs have submitted a new fund application to launch the "Defiance MSTR Double Short Hedged ETF" and short two intraday leveraged ETFs (long and short) that track Strategy (formerly MicroStrategy), in order to leverage the volatility attenuation effect of long-term holding of leveraged products to generate returns.