According to Cointelegraph, REX Shares and Tuttle Capital Managed jointly launched two ETFs on September 18, namely T-REX 2X Long MSTR Daily Target ETF (MSTU) and T-REX 2X Inverse MSTR Daily Target ETF (MSTZ), providing 2x leveraged long and short exposure to MicroStrategy (MSTR) stock performance.
In August, competitor Defiance ETFs launched its first leveraged MSTR ETF, the Defiance Daily Target 1.75X Long MSTR ETF (MSTX), which saw $22 million in first-day volume.
MSTX currently has over $186 million in net assets. REX and Tuttle’s ETF will offer about 15 times the volatility of SPX.
MicroStrategy has transformed into a cryptocurrency hedge fund since 2020 and plans to issue $700 million in debt, part of which will be used to purchase BTC.
