Bitcoin ETF Competition Heats Up: T-Rex Takes on ProShares with New Leveraged Funds

Bitcoin Bitcoin ETF

Jul, 10, 2024

< 1 min read

by CoinEdition

T-Rex launches 2X Long and Short Bitcoin ETFs against ProShares.
ETFs focus on daily Bitcoin spot price for amplified gains.
Market watches T-Rex’s impact on ETF competition closely.

T-Rex is shaking up the increasingly popular world of Bitcoin ETFs, launching two new funds designed to double down on the cryptocurrency’s daily gains or losses.

These new offerings, the T-Rex 2X Long Bitcoin Daily Target ETF and the T-Rex 2X Short Bitcoin Daily Target ETF, are entering a field to directly compete with products from ProShares; the ProShares Bitcoin Strategy ETF (BITO) and the ProShares Short Bitcoin Strategy ETF (BITI).”

As shared by ETF enthusiast Eric Balchunas, these ETFs are set to directly compete with the ProShares Bitcoin Strategy ETF (BITO) and the ProShares Short Bitcoin Strategy ETF (BITI), which launched earlier this week.

Launching Today: T-Rex with 2x and -2x spot bitcoin ETFs which will challenge ProShares and VolShares, whose leveraged btc ETFs already have about $2b combined. That's how good the getting is in this category right now. pic.twitter.com/PfZALdSQUc
— Eric Balchunas (@EricBalchunas) July 10, 2024

The T-Rex ETFs will seek a …

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