As an experienced financial analyst, I see the launch of REX Shares and Tuttle Capital Management’s new Bitcoin ETFs, BTCL and BTCZ, as a bold move in response to the growing demand for Bitcoin exposure among investors and traders. With significant inflows into Bitcoin ETFs in recent days due to price drops caused by external factors, these new offerings provide a unique opportunity for high-conviction Bitcoin traders to capitalize on the price volatility with 200% leverage or inverse exposure.
On July 10, innovative ETF creators REX Shares and Tuttle Capital Management introduced the T-REX 2X Long Bitcoin Daily Target ETF (CBOE: BTCL) and T-REX 2X Inverse Bitcoin Daily Target ETF (CBOE: BTCZ). These exchange-traded funds provide Bitcoin traders with a strong conviction in price fluctuations, offering them double the daily exposure to Bitcoin’s volatility.
Rather than owning Bitcoins outright, these ETFs acquire exposure to Bitcoin through financial instruments such as derivatives. The introduction of these products follows substantial investment into Bitcoin ETFs, totaling $650 million since July 5. This surge in interest can be attributed to recent price fluctuations resulting from forced Bitcoin sales by Germany’s government and the collapse of the Japanese exchange Mt. Gox.
— REX Shares (@REXShares) July 10, 2024
Scott Acheychek, the COO of REX Financial, which is the parent company of REX Shares, commented, “The extraordinary surge of Bitcoin’s value in 2024 has attracted investors and traders from all corners of the globe. To help traders effectively leverage Bitcoin’s price fluctuations, we are introducing 2X leveraged and inverse Spot Bitcoin ETFs.”
As an analyst, I’d put it this way: In June, I observed that the “T-REX” collection of ETFs offered by REX Shares surpassed the $5 billion mark in total assets under management (AUM). Impressively, more than a billion dollars of these new assets were allocated specifically to the T-REX funds within the past year.
Furthermore, REX Shares’ newly introduced ETFs carry a management fee of 0.95%, which is noticeably greater than the around 0.2% fees levied by Bitcoin spot ETFs such as Franklin Templeton Digital Holdings Trust (EZBC), VanEck Bitcoin Trust (HODL), and iShares Bitcoin Trust (IBIT).
Traders can seize opportunities in Bitcoin’s price fluctuations through REX Shares and Tuttle Capital’s innovative offerings. However, it is essential for investors to note the elevated fees and potential risks linked to leveraged Bitcoin ETFs.
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2024-07-11 07:00