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CDS Crypto News T Rex Group Proposes 2x Long, Inverse Microstrategy ETF

Crypto News

T Rex Group Proposes 2x Long, Inverse Microstrategy ETF

sevval28/06/20241 Mins read268

T Rex Group Proposes 2X Long, Inverse Microstrategy Etf

T Rex Group Proposes for 2x Long, Inverse Microstrategy ETF

T Rex Group Proposes– T-Rex Group, an ETF issuer, has filed for a new ETF that will take a 2x long position in MicroStrategy (MSTR), which heavily holds bitcoin (BTC). According to a filing on the Securities and Exchange Commission’s EDGAR platform, the T-Rex 2X Long MSTR Daily Target ETF aims to achieve 200% of MicroStrategy’s daily performance.

Additionally, T-Rex also submitted an application for an ETF that would take a 2x inverse position in MSTR. These ETFs are designed to provide leveraged long or short exposure to bitcoin through MicroStrategy, known for its high volatility due to its significant bitcoin holdings. Currently, the stock’s implied volatility is 85.6%, trending lower compared to recent averages, amid stable bitcoin prices.

MicroStrategy’s CEO, Michael Saylor, recently announced plans to offer $500 million in convertible notes to increase the company’s bitcoin holdings. Bloomberg ETF analyst Eric Balchunas commented that these proposed ETFs could potentially be the most volatile ever seen in the U.S., with volatility expected to be 20 times higher than the SPX.

T-Rex just filed for the first-ever 2x Microstrategy $MSTR ETFs.. these are a near-lock to be most volatile ETFs ever seen in the US, will likely be in the neighborhood of 20x the volatility of SPX. The ghost pepper of ETF hot sauce. pic.twitter.com/NlUQMVTOxI
— Eric Balchunas (@EricBalchunas) June 27, 2024

They will be the ghost pepper of ETF hot sauce, he remarked. ETF issuers Defiance and GraniteShares have also introduced products that short MicroStrategy (MSTR). In addition to these, T-Rex filed for six leveraged inverse bitcoin ETFs in March, ranging from 1.5x to 2x positions.

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sevval

Şevval has been actively writing since 2022 and is a third-year mathematics student at Ankara University. Her interest in writing is shaped particularly around innovative technologies such as Web3, artificial intelligence, and blockchain. She closely follows developments in these fields and aims to convey complex topics to readers in a clear and engaging manner. She enjoys combining her mathematical knowledge with technology to create content and strives to raise awareness about the digital world of the future.

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