T-Rex Unveils 2x Leveraged And Inverse Bitcoin ETF

A new player has emerged in the US market by introducing a new Bitcoin ETF (exchange-traded fund) by T-Rex, an asset manager founded by Benjamin Cohen in 2012.

Asset manager T-Rex has introduced a new Bitcoin ETF in the US market.

The T-Rex Bitcoin ETF provides investors with 2x leveraged exposure to the daily performance of the spot price of BTC.

This ETF differs from those managed by BlackRock, Fidelity, or the Grayscale Bitcoin Trust (GBTC), which aims to deliver investment results that are 200% of the daily performance of Bitcoin.

To achieve this, T-Rex has partnered with REX Shares and Tuttle Capital Management to launch two new products: the T-REX 2X Long Bitcoin Daily Target ETF (BTCL) and the T-REX 2X Inverse Bitcoin Daily Target ETF (BTCZ).

According to Scott Acheychek, COO of REX Financial, the parent company of REX Shares, the launch of these 2X leveraged and inverse Spot Bitcoin ETFs will arm traders with powerful tools to capitalize on Bitcoin’s price swings like never before.

On the other hand, Matt Tuttle, CEO of Tuttle Capital Management, highlighted the importance of venturing into digital assets as a milestone in delivering “cutting-edge” ETFs that cater to modern investor needs.

These Bitcoin funds amplify the upsides and the downsides, showcasing their commitment to innovation and pushing the boundaries in the ETF landscape.

The launch of T-Rex comes as the Bitcoin price has experienced significant volatility due to persistent selling pressure from German authorities, who have been liquidating seized BTC holdings.

However, the market has also witnessed notable inflows in the past few days in Bitcoin ETFs offered by the world’s largest asset managers in the US market, which has helped keep BTC's price above key support floors.

Bitcoin faced a weekly low of $54,000 on Monday as selling pressure mounted. Still, the ETF market saw a resurgence with substantial inflows of approximately $654 million over the past three trading days.

On Tuesday, a combined total of $216 million flowed into these Bitcoin ETFs, indicating a renewed bullish sentiment among investors after experiencing significant outflows over the past week that led BTC to reach a 6-month low of $53,500 on Friday.

Despite this, BTC recovered the $57,760 level on Wednesday, with $58,000 being the next major resistance for the largest cryptocurrency in the market.