High-conviction Bitcoin traders targeted in new long BTC ETFs
Rex Shares’ new Bitcoin ETFs offer 200% long or short directional exposure to Bitcoin’s price volatility.
On July 10, investment managers REX Shares and Tuttle Capital Management launched two new exchange-traded funds (ETFs) that enable high-conviction Bitcoin (BTC) traders to double down on long or short positions with 200% exposure to BTC’s price volatility.
The two funds—the T-REX 2X Long Bitcoin Daily Target ETF (CBOE: BTCL) and the T-REX 2X Inverse Bitcoin Daily Target ETF (CBOE: BTCZ)—do not hold spot BTC directly. Instead, they use financial derivatives to deliver 2x leveraged or inverse exposure to spot BTC.
Bitcoin ETFs have seen white-hot inflows in the past week amid a sharp pullback in spot prices spurred by multibillion-dollar BTC liquidations by Germany’s government and Mt. Gox, the defunct Japanese crypto exchange. Approximately $650 million has flowed into BTC ETFs since July 5, according to Farside Investors.
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Author: Alex O’Donnell
