Curated News
By: NewsRamp Editorial Staff
July 17, 2024

Direxion Unveils LMBO and REKT: Bold Trades for and Against the Crypto Industry

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Source News Release

TLDR

  • Direxion launches LMBO and REKT, ETFs for 2x or 1x daily exposure to crypto industry, providing opportunities for quick gains.
  • LMBO and REKT ETFs track Solactive Index, offering 2x/1x daily results before fees, for US-listed crypto-related securities, such as blockchain and NFTs.
  • Direxion's LMBO and REKT ETFs support the growth of the crypto industry, providing traders with vehicles to express short-term conviction and align with shifting dynamics.
  • Crypto equities are a $3 trillion asset class, and LMBO and REKT ETFs offer a focused exposure for traders to express short-term conviction.

Impact - Why it Matters

This news matters because it provides traders with new opportunities to invest in the rapidly growing crypto industry, offering both bullish and bearish ETFs to align with market dynamics. The launch of LMBO and REKT reflects the increasing influence of the crypto sector and the demand for specialized investment vehicles to capture its potential growth.

Summary

Direxion, a leading provider of tradeable and thematic ETFs, has announced the launch of the Direxion Daily Crypto Industry Bull 2X Shares (Ticker: LMBO) and the Direxion Daily Crypto Industry Bear 1X Shares (Ticker: REKT). These ETFs seek to provide daily investment results based on the performance of the Solactive Distributed Ledger & Decentralized Payment Tech Index, which includes businesses in blockchain technology, non-fungible tokens, decentralized finance, and digital asset mining hardware.

The managing director of Direxion, Edward Egilinsky, highlighted the rapid growth of crypto equities, now representing a nearly $3 trillion asset class. As the crypto industry continues to expand, Direxion aims to provide traders with focused exposure to companies shaping the future of a crypto-driven, decentralized economy.

Source Statement

This curated news summary relied on this press release disributed by News Direct. Read the source press release here, Direxion Unveils LMBO and REKT: Bold Trades for and Against the Crypto Industry

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