Gate Research released a report titled "Gate ETF Scale Effect Continues to Emerge," highlighting that amidst the widespread contraction and reduction of ETF leveraged token supply by cryptocurrency exchanges in the past two years, the ability to consistently and stably offer ETF trading products has become a scarce competitive advantage. The report points out that the industry doesn't no longer need leverage; rather, complex structured products, lacking clear mechanism disclosure and cost explanation, are prone to misuse and controversy, leading many platforms to exit the market. Gate, however, has continued to iterate and expand this category during this downturn. The research shows that Gate has transformed ETF leveraged tokens from a single function into a mature product line that is scalable, explainable, low-cost, and standardized. In 2025, Gate supported trading in 244 ETF leveraged tokens, accumulating approximately 200,000 users and generating hundreds of millions of dollars in daily trading volume. At the mechanism level, Gate clearly discloses rebalancing times, trigger intervals, and share merging and splitting rules, and unifies all hedging-related costs to a 0.1%/day management fee, covering funding rates, transaction fees, and slippage, making costs "centralized and visible" rather than "implicitly dispersed." At a time when the industry is choosing to reduce the supply of complex product categories, Gate is further transforming scarce supply into a structural advantage of liquidity and user stickiness by leaving the execution complexity to the platform and the transaction certainty to the users.