REX Shares and Tuttle Capital Management have introduced two new ETFs aimed at leveraging investor interest in bitcoin‘s market dynamics. The T-REX 2X Long Bitcoin Daily Target ETF (BTCL) and T-REX 2X Inverse Bitcoin Daily Target ETF (BTCZ) provide 200% leveraged and -200% inverse exposure to bitcoin’s daily performance, announced the issuers on Wednesday.
Scott Acheychek, COO of REX Financial, the parent company of REX Shares, highlighted the strategic move amidst bitcoin’s notable rise in 2024, stating, “By launching 2X leveraged and inverse spot bitcoin ETFs, we’re equipping traders with robust tools to capitalize on bitcoin’s price volatility.”
Despite bitcoin’s recent 17% decline over the past month, leading it to its lowest levels since late February, the new ETFs reflect a growing appetite for digital asset investments. Flows into the 11 existing spot bitcoin ETFs, launched earlier this year, have surged, amassing over $15 billion in inflows as bitcoin rebounded in recent days.
Matt Tuttle, CEO of Tuttle Capital Management, described the launch as a pivotal step towards meeting modern investor demands, stating, “Expanding into digital assets marks a significant milestone as we strive to deliver cutting-edge ETFs tailored to contemporary investment needs.”
Since its inception in October 2023, T-REX has expanded its portfolio to include nine single-stock ETFs focusing on prominent tech stocks. Tuttle Capital Management, managing six ETFs valued at $15 million, and REX Shares, overseeing two ETFs valued at $327.2 million, are both headquartered in Connecticut, underscoring their commitment to ETF innovation and market leadership.
Related Topics:
