World Funds Trust - T-Rex 2X Long Bitcoin Daily Target ETF
BTCL
Chicago Board Options Exchange- -
USD
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- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 1241 Post Road Fairfield CT United States of America 6824
- IPO Date
- Jul 10, 2024
- CIK
- 0001396092
- Similar Companies
- Business
- T-Rex 2X Long Bitcoin Daily Target ETF is a U.S.-domiciled, non-diversified exchange-traded fund that seeks investment results, before fees and expenses, corresponding to 200% of the daily performance of Bitcoin. Launched on July 9, 2024, the Fund is listed on Cboe BZX Exchange under the ticker BTCL and is part of the T-REX leveraged ETF platform sponsored by REX Shares and advised by Tuttle Capital Management LLC, which is headquartered in Riverside, Connecticut. The Fund is organized as a series of ETF Opportunities Trust, whose principal executive offices are in Richmond, Virginia. BTCL principally provides daily-reset leveraged Bitcoin exposure for active and sophisticated investors through financial instruments, including total-return swap agreements referencing Bitcoin-related exchange-traded products, and may use options and other derivatives; it also holds cash, money-market funds, U.S. government securities, repurchase agreements, deposit accounts and other short-term, high-quality instruments for collateral, liquidity and cash-management purposes. The Fund generally invests at least 80% of net assets, plus borrowings for investment purposes, in instruments designed to provide aggregate daily exposure equal to approximately twice Bitcoin’s price performance and rebalances its portfolio each trading day. BTCL does not seek to deliver twice Bitcoin’s return over periods longer or shorter than one trading day, and compounding, volatility, derivative pricing, financing costs, counterparty exposure and daily rebalancing can cause longer-term results to differ materially from 200% of Bitcoin’s cumulative performance. The Fund serves U.S. retail and institutional market participants seeking tactical, exchange-traded leveraged exposure to Bitcoin rather than direct ownership or custody of the digital asset. Recent strategic developments include the continued expansion of the T-REX product platform by REX Shares and Tuttle Capital Management across leveraged single-stock, cryptocurrency and thematic ETFs; REX Shares identifies BTCL as part of its leveraged ETF lineup and has described the Fund as an early leveraged ETF tied to spot Bitcoin.