REX Shares, Tuttle Launch Leveraged Bitcoin ETFs

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Bitcoin

REX Shares and Tuttle Capital Management debuted a pair of ETFs offering amplified exposure to the spot price of bitcoin, the latest products tapping investors’ surging interest in digital assets.

The T-REX 2X Long Bitcoin Daily Target ETF (BTCL) and T-REX 2X Inverse Bitcoin Daily Target ETF (BTCZ) will provide 200% and -200% leveraged and inverse exposure to bitcoin’s daily performance, the issuers announced Wednesday.

“Bitcoin’s meteoric rise in 2024 has captured the attention of investors and traders worldwide,” Scott Acheychek, chief operating officer of REX Financial, REX Shares parent company, said in the announcement. “By launching 2X leveraged and inverse spot bitcoin ETFs, we’re arming traders with powerful tools to capitalize on Bitcoin’s price swings like never before.”

The exchange-traded funds come despite a 17% decline in bitcoin over the past month that sent the world’s largest cryptocurrency to its lowest levels since late February, although it has rallied over the past two days. Flows to the 11 spot bitcoin ETFs that began trading earlier this year have rallied over the past day, as their underlying asset has rebounded. They have generated more than $15 billion in inflows.

New Bitcoin ETFs to Amplify BTC Price Movement

“Expanding into digital assets represents a major milestone as we strive to deliver cutting-edge ETFs tailored to modern investor needs,” said Matt Tuttle, CEO of Tuttle Capital Management.

“With their amplified upside and downside exposure, these Bitcoin funds epitomize our commitment to innovation and pushing boundaries in the ETF landscape,” he added.

Since starting in October 2023, T-REX has now launched nine single-stock ETFs that provide exposure to big tech stocks.

Tuttle Capital Management manages six ETFs worth $15 million, while REX Shares manages two ETFs worth $327.2 million. Both firms are based in Connecticut.

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