As a seasoned crypto investor with a penchant for spotting promising opportunities, I find the recent surge of MSTU, the 2X Long MSTR Daily Target ETF, nothing short of intriguing. Having witnessed the meteoric rise of Bitcoin and other digital assets, I can’t help but draw parallels between this ETF and a wild mustang galloping across the plains – fast, unpredictable, and potentially very profitable.
As per the analysis by respected expert Eric Balchunas, the daily target ETF T-REX 2X Long MSTR (MSTU) has already experienced a remarkable surge of approximately 225% so far.
The newly introduced product is currently managing approximately a billion dollars in assets, having been on the market for merely six weeks.
During its inaugural week of trade, MSTU attracted over $70 million in investments.
As the name suggests, the ETF is meant to double the performance of the red-hot MSTR stock.
Boosted significantly by the outstanding performance of its underlying stock, MSTU has delivered remarkable results during the recent period.
According to a report from U.Today, MicroStrategy has made its way into an exclusive group, known as the “Magnificent 7,” alongside industry giants like Amazon and Alphabet. This elite club is distinguished by their high trading volumes.
The MSTR stock has surged more than 10% during the Monday trading session. The stock is now up a whopping 53% over the past month alone. MicroStrategy’s market share currently stands at more than $52 billion.
Over the last day, the cost of Bitcoin has risen by a modest 2.7%. It’s now edging close to the $70,000 mark.
A 4x Bitcoin ETF
As noted by Balchunas, MSTU should be treated as a 4X Bitcoin ETF.
Its 30-day volatility stands at 168% compared to IBIT’s 41%. While it is impossible to launch a 4X Bitcoin ETF in the US, MSTU serves as a viable investment for speculative traders.
There is also a 1.75X long MicroStrategy ETF that was launched in August by Defiance ETFs.
Currently, according to U.Today’s reports, Bitcoin ETFs have amassed approximately 1,000,000 BTC in total assets. Introduced earlier this year, these financial products have proven incredibly popular, significantly boosting the price of Bitcoin.
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2024-10-28 23:10