T-Rex Unveils 2x Leveraged And Inverse Bitcoin ETF
T-Rex, a new player in the US market, has made a bold move by introducing a new Bitcoin ETF that directly competes with established funds like ProShares Bitcoin Strategy ETF (BITO) and VolShares BITX ETF. Founded by Benjamin Cohen in 2012, T-Rex has unveiled a 2x leveraged and inverse Bitcoin ETF, designed to provide investors with amplified exposure to the daily performance of Bitcoin.
The T-Rex Bitcoin ETF aims to deliver investment results that are 200% of the daily performance of Bitcoin, offering traders powerful tools to capitalize on the cryptocurrency’s price swings. Partnering with REX Shares and Tuttle Capital Management, T-Rex has launched two new products: the T-REX 2X Long Bitcoin Daily Target ETF (BTCL) and the T-REX 2X Inverse Bitcoin Daily Target ETF (BTCZ).
Scott Acheychek, COO of REX Financial, emphasized the significance of the launch, highlighting Bitcoin’s meteoric rise in 2024 and the increasing interest from investors and traders worldwide. Matt Tuttle, CEO of Tuttle Capital Management, noted the importance of venturing into digital assets and delivering cutting-edge ETFs that cater to modern investor needs.
Despite recent volatility in the Bitcoin market, with selling pressure from German authorities impacting prices, there have been notable inflows in Bitcoin ETFs offered by major asset managers in the US market. This influx of approximately $654 million over the past three trading days has helped support Bitcoin’s price above key support levels.
With BTC recovering to the $57,760 level on Wednesday, investors are eyeing the $58,000 mark as the next major resistance for the largest cryptocurrency on the market. The launch of T-Rex’s new Bitcoin ETFs adds an exciting dimension to the ETF landscape, offering traders enhanced exposure to the volatile cryptocurrency market.
