T-Rex Group Files for 2x Long, Inverse Microstrategy ETF

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2天前


T-Rex Group, the exchange-traded funds (ETFs) issuer, has filed for an ETF that will take a 2x long position in bitcoin (BTC)-heavy Microstrategy (MSTR).


According to a filing published 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.


T-Rex also filed for an ETF that would take a 2x inverted position in MSTR. Effectively, both of these listed products would be a leveraged long or short on bitcoin.


MSTR, with its heavy exposure to bitcoin, is known for its volatility as it tracks the world's largest digital asset. The stock's current implied volatility is high at 85.6, but trending lower than its recent average, as bitcoin's price remains stable.


Recently its CEO, Michael Saylor, announced the firm would offer $500 million in convertible notes to boost its bitcoin holdings.


Bloomberg ETF analyst Eric Balchunas wrote on X that these ETFs would be a "near-lock to be the most volatile ETFs ever seen in the U.S, with 20x the volatility of the SPX."


They will be the "ghost pepper of ETF hot sauce", he said.


ETF issuers Defiance and GraniteShares have also listed products that take a short position in MSTR.


T-Rex also filed for six leveraged inverse bitcoin ETFs in March, with positions ranging from 1.5x-2x.


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