As an analyst with a background in finance and experience in following the Bitcoin market, I find T-Rex’s entry into the US market with their new 2x leveraged and inverse Bitcoin ETF an intriguing development. With Benjamin Cohen’s asset management firm entering the competition against established players like ProShares and VolShares, we can expect increased innovation in this space.
A newcomer, T-Rex – a US-based asset management firm established by Benjamin Cohen in 2012, has entered the competitive landscape by launching a Bitcoin ETF (exchange-traded fund). This fresh offering positions T-Rex to go head-to-head with existing players, ProShares Bitcoin Strategy ETF (BITO) and VolShares BITX ETF.
T-Rex Unveils 2x Leveraged And Inverse Bitcoin ETF
The asset manager revealed on Wednesday, along with Bloomberg ETF specialist Eric Balchunas’ assessment, that the T-Rex Bitcoin ETF is engineered to give investors a 2x multiplied exposure to Bitcoin’s daily price changes. Essentially, this fund aims to generate returns that are twice the daily returns of Bitcoin itself.
The novel ETF stands out by pursuing a more risky and substantial daily return, contrasting the approach of Bitcoin ETFs like those managed by BlackRock, Fidelity, or GBTC, which focus on longer-term performance.
To achieve this goal, T-Rex has teamed up with REX Shares and Tuttle Capital Management to introduce two innovative investment products: the T-REX 2X Long Bitcoin Daily Target Exchange-Traded Fund (BTCL), and the T-REX 2X Inverse Bitcoin Daily Target Exchange-Traded Fund (BTCZ).
As the COO of REX Financial, the parent company of REX Shares, I am thrilled to announce the launch of our new product. This is a momentous occasion for us, and I want to emphasize the importance of this milestone in the context of our mission to provide innovative financial solutions to our clients.
As a financial analyst, I’m thrilled to observe Bitcoin’s remarkable surge in value during the year 2024. To help traders effectively harness the volatility of this digital currency, we’re introducing 2X leveraged and inverse Spot Bitcoin Exchange-Traded Funds (ETFs). By utilizing these financial instruments, investors can amplify their exposures to Bitcoin’s price movements or even bet against its trends, unlocking unprecedented opportunities for profit.
Instead of this: “On the other hand, Matt Tuttle, CEO of Tuttle Capital Management, emphasized the significance of exploring digital assets as a key step in creating ‘leading-edge’ ETFs tailored for contemporary investor requirements.”
As a crypto investor, I can tell you that Tuttle’s Bitcoin funds are a clear demonstration of our forward-thinking approach and willingness to take risks in the ETF market. These funds offer enhanced potential for gains as well as increased vulnerability to losses, making them an exciting addition to the landscape.
Volatility Meets Inflows
Recently, the price of Bitcoin has seen notable fluctuations, primarily caused by continuous selling actions from German officials, as they’ve been disposing of confiscated Bitcoin hoards.
Despite recent increases in investments, Bitcoin ETFs from major US asset managers have kept Bitcoin’s price afloat by surpassing crucial support levels.
Last week, Bitcoin reached its lowest point for the week at $54,000 on Monday. Despite this dip in price, there was a noticeable surge in the ETF market, with around $654 million in inflows recorded over the last three business days.
On Tuesday, a total inflow of $216 million was recorded in Bitcoin ETFs, signifying a resurgence of bullish investor sentiment following substantial outflows the previous week. This influx of funds caused Bitcoin to rebound from its 6-month low of $53,500 reached on Friday.
In spite of the current situation, Bitcoin bounced back to hit $57,760 on Wednesday. The significant hurdle for Bitcoin’s upward momentum is now at $58,000.
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2024-07-11 08:42