Cryptocurrency Q&A
Does Direxion have a spot bitcoin ETF?
Does Direxion have a spot bitcoin ETF?
Ilaria
Mon Jul 15 2024
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6 answers
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As a keen observer of the cryptocurrency and finance landscape, I'm curious to know if Direxion, a renowned player in the ETF market, has ventured into the spot bitcoin ETF segment. With the growing interest and demand for digital currencies, investors are looking for safe and regulated avenues to gain exposure to bitcoin. Does Direxion offer such a product that allows investors to directly track the spot price of bitcoin, without the complexities of futures or derivatives? This would be a significant step in the evolution of the crypto ETF market and I'm keen to learn more about it.
6 answers
Ilaria
Wed Jul 17 2024
Direxion, a prominent asset management firm, has submitted an application to the Securities and Exchange Commission on January 18th for the launch of five innovative leveraged and inverse leveraged spot bitcoin funds.
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BonsaiBeauty
Wed Jul 17 2024
The proposed ETFs are diverse, offering investors a range of options to suit their investment strategies. These include a 2x spot bitcoin ETF, designed to deliver twice the returns of the underlying bitcoin price.
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Margherita
Tue Jul 16 2024
Alongside the 2x fund, Direxion has also filed for an inverse 2x ETF, which aims to deliver the opposite returns, effectively hedging against a declining bitcoin price.
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KatanaBladed
Tue Jul 16 2024
For investors seeking a more moderate approach, Direxion has proposed a 1.5x fund and its inverse counterpart, the inverse 1.5x fund. These funds offer investors the potential for amplified returns, but with less volatility than the 2x funds.
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TaegeukWarrior
Tue Jul 16 2024
Lastly, Direxion has filed for an inverse 1x fund, which simply aims to replicate the inverse of the bitcoin price. This fund provides a simple hedging tool for investors seeking to mitigate the risk of a falling bitcoin market.
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