Options on newly introduced leveraged instruments that mirror bitcoin’s spot price via derivative swaps began trading on Thursday, a cryptocurrency ETF first
On Wednesday, Rex Shares and Tuttle announced that investors will now have the opportunity to purchase options on the T-Rex 2x Long Bitcoin Daily Target ETF and the T-Rex 2x Inverse Bitcoin Daily Target ETF.
Both of these exchange-traded funds were newly introduced.
Options on the nine new exchange-traded funds (ETFs) introduced in January and directly follow the spot price of bitcoin have yet to be approved by the Securities and Exchange Commission (SEC).
Daily traders who are interested in receiving twice the return or betting on a collapse in the underlying asset, which in the case of these products is BlackRock’s market-leading iShares Bitcoin Trust (IBIT.O), are the target audience for the leveraged exchange-traded funds (ETFs) that are based on leverage.
As a result of the leverage, the ETFs have the potential to be more volatile.
“We strongly encourage all traders to approach this exclusive offering with diligence, ensuring they are well informed about the unique characteristics and risks associated with trading options for these specialized ETFs,” Tuttle and Rex Shares stated in their announcement.
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