CoinVoice has recently learned that according to Bloomberg Intelligence data, the leveraged MicroStrategy (MSTR) exchange-traded fund (ETF) has exceeded the $400 million mark in net assets this week, and retail investors continue to flock to this extremely volatile Bitcoin ETF transaction.

Asset manager Defiance ETFs launched the first leveraged MSTR ETF in August. Rivals REX Shares and Tuttle Capital Management introduced more leveraged products in September, kicking off what Bloomberg ETF analyst Eric Balchunas called a “hot sauce arms race.”

MicroStrategy started out as a business intelligence company but transformed into a de facto cryptocurrency hedge fund in 2020 after founder Michael Saylor began using the company’s balance sheet to buy Bitcoin. [Original link]