Bitcoin’s Slide Below $60,000 Delivers 80% Windfall For This ETF
Bitcoin’s plunge below the key $60,000 level last week created winners in leveraged inverse ETFs betting against some of the crypto market’s most closely watched stocks.
The T-Rex 2X Inverse CRCL Daily Target ETF (BATS:CRCD) surged roughly 82% last week, while the T-Rex 2X Inverse MSTR Daily Target ETF (BATS:MSTZ) gained more than 63%, as investors rushed to hedge against mounting pressure on crypto-related equities.
The rally in bearish ETFs coincided with one of Bitcoin’s sharpest declines this year. The world’s largest cryptocurrency fell about 18% last week and briefly dropped to $59,101 on Friday, marking its first move below $60,000 since late 2024.
Strategy’s Weakness Boosts MSTZ
The selloff reverberated across crypto-linked stocks, particularly Strategy Inc (NASDAQ:MSTR), the company widely viewed as a leveraged Bitcoin proxy.
Strategy came under pressure after disclosing a small Bitcoin sale, its first since 2022. The announcement raised concerns about the durability of the company’s long-standing buy-and-hold strategy and added to fears surrounding corporate Bitcoin treasury models.
Those concerns …
About The Author
