In a recent development in the dynamic cryptocurrency industry, T-Rex is introducing new leveraged Bitcoin spot exchange-traded funds (ETFs). The new launch offers 2x (double) and -2x (inverse double) exposure to Bitcoin ETFs.

New ETF products based on the largest cryptocurrency on the market are expected to challenge major players in the market, such as ProShares and VolShares. The recent move could potentially revive the bear market.

Bloomberg Senior ETF Analyst Eric Balchunas shared the information about the launch of ETFs and the likely rivalry with the industry giants.

“Launching today: T-Rex with 2x and -2x spot bitcoin ETFs that will challenge ProShares and VolShares, whose leveraged btc ETFs already have about $2B combined. That’s how good the sourcing is in this category right now,” the expert wrote in a post on July 10.

As noted by the analyst, the new ETFs will offer 2x and -2x leverage on spot Bitcoin. The new ETF products for the largest cryptocurrency will aim to double the daily return of Bitcoin, as well as provide the inverse of doubling the daily return.

At the time of publication, the price of Bitcoin was quoted at US$ 57,718.12 with an increase of 0.8% in the last 24 hours.

Bullish Bitcoin Prediction: $100,000 This Year

Anthony Scaramucci, the founder of SkyBridge Capital, recently shared his bullish outlook on Bitcoin’s future, anticipating that the leading cryptocurrency could reach the $100,000 milestone by the end of this year. In an interview with CNBC, Scaramucci expressed confidence in Bitcoin’s recovery despite its recent correction to around $53,000.

According to Scaramucci, the current price slump is a temporary situation, driven by events such as the settlement of creditors of bankrupt exchange Mt. Gox and the German government’s coin sales. “We still love the long-term fundamentals of Bitcoin. And I think, like I said, it will be $170,000 post-halving, but I think you can get to $100,000 by the end of the year, but it has to go through that grind now.”

Disclaimer:

The views and opinions expressed by the author, or any person mentioned in this article, are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading cryptocurrencies carries a risk of financial loss.

Source: https://portalcripto.com.br/t-rex-lanca-etfs-bitcoin-de-alavancagem-dupla-longa-e-curta-detalhes/



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