Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn

T-Rex Files for ‘Ghost Pepper’ 2x Leveraged MicroStrategy ETF

CryptopotatoCryptopotato2024/06/28 21:28
By:Author: Chayanika Deka

T-Rex 2x Long MSTR Daily Target ETF has earned the nickname “ghost pepper” of ETFs.

T-Rex Group – a financial services company – has filed for a 2x leveraged MicroStrategy (MSTR) exchange-traded fund (ETF) in the United States.

This financial vehicle is being deemed as potentially the most volatile ETF in the country.

The filing with the Securities and Exchange Commission’s EDGAR platform reveals that the main aim of the objective of the fund, dubbed ‘T-Rex 2X Long MSTR Daily Target ETF,’ is to magnify the daily performance of the publicly traded common stock of MicroStrategy by 200%.

Bloomberg’s Senior ETF analyst, Eric Balchunas, highlighted that if approved, this fund could demonstrate fluctuating levels up to 20 times greater than the SP 500, potentially making it the most volatile ETF in the US market. This has prompted this potential product to earn the nickname the “ghost pepper of ETFs.”

Balchunas compared this ETF’s volatility to that of a 3X leveraged Microstrategy ETF available in Europe, which already shows significant fluctuations. He remarked that the QQQ, an index tracking the top publicly traded companies in the US, appears as stable as a money market fund in comparison.

“T-Rex just filed for the first-ever 2x Microstrategy $MSTR ETFs.. these are a near-lock to be the most volatile ETFs ever seen in the US, and will likely be in the neighborhood of 20x the volatility of SPX. The ghost pepper of ETF hot sauce.”

Founded in 1989 by Michael Saylor, MicroStrategy has gone on to become the largest publicly traded holder of Bitcoin. The business intelligence company currently holds a whopping 214,400 BTC – valued at $13.2 billion – on its books.

Meanwhile, T-Rex has also filed for six leveraged inverse Bitcoin ETFs with 1.5x-2x leverage.

Tags: MicroStrategy
Enjoy reading? Share with your friends
Facebook Twitter LinkedIn Telegram
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

You may also like

VanEck: Solana ETF approval odds higher if Gensler no longer serves as SEC chairman

Cointime2024/07/03 14:08

NextGen Venture pledged 2,320 ETH into Scoll via Stakestone three hours ago

Cointime2024/07/03 14:08

Oasys adopts Circle’s new USDC bridge standard

Cointime2024/07/03 14:08

Jupiter Launches Meme Coin Trading Platform Ape

Cointime2024/07/03 14:08

‌Spot copy trading

More
AIOnline
AIOnline
insight1000/1000
9937.51%
ROI
Total profit $50681.28
WhaleGo_YouTube
WhaleGo_YouTube
insight500/500
1323.16%
ROI
Total profit $3841.97

Bot copy trading

More
GoldenEgg
GoldenEgg
insight142/150
$8535.66
Total profit
Total subscriber profits $-284.87
BGUSER-FFF8CNJ4
BGUSER-FFF8CNJ4
insight8/150
$4174.08
Total profit
Total subscriber profits $-79.9