Direxion Enters Crypto Market with Leveraged and Inverse ETFs
CryptoNewsTerminal Staff17 Jul, 2024
Direxion Enters Crypto Market with Leveraged and Inverse ETFs
Direxion, renowned for its innovative ETF offerings, has recently launched two ETFs that venture into the realm of cryptocurrency. These new ETFs, LMBO and REKT, are tied to an index focused on the burgeoning crypto sector, encompassing domains such as blockchain, NFTs, DeFi, and mining. The LMBO ETF distinguishes itself as a double leveraged product, amplifying the index's performance, while REKT takes the opposite approach as an inverse product. This move by Direxion underscores the growing interest and demand for crypto-related investment vehicles.