Direxeion has launched two high-risk leveraged cryptocurrency ETFs: Direxion Daily Crypto Industry Bull 2X Shares (ticker: LMBO) and Direxion Daily Crypto Industry Bear 1X Shares (ticker: REKT).
Leveraged exchange traded funds (ETFs), such as Direxion's latest fund, use derivatives and debt to amplify the daily returns of underlying securities. Whereas traditional ETFs typically track securities in their underlying indices on a one-to-one basis, leveraged funds may target a ratio of 2:1 (or higher).
Edward Egilinsky, managing director of Direxion, said: "Crypto stocks are among the fastest growing companies in the world and currently represent an asset class of nearly $3 trillion. LMBO and REKT provide traders with concentrated investment opportunities to express their short-term confidence in companies building the future of a crypto-driven, decentralised economy."
Direxeion Launches Two High-Risk Leveraged Cryptocurrency ETFs
2024-07-18 19:13:14
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