T-Rex 2X Inverse Bitcoin Daily Target ETF
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- T-Rex 2X Inverse Bitcoin Daily Target ETF is a U.S.-listed, non-diversified leveraged exchange-traded fund that seeks daily investment results, before fees and expenses, equal to -200% of the daily performance of spot Bitcoin. Trading under the ticker BTCZ on Cboe BZX Exchange, the Fund provides inverse, leveraged exposure to Bitcoin through over-the-counter total-return swap agreements and related derivative instruments, rather than through direct ownership of or direct short positions in Bitcoin. Its portfolio may also include cash collateral, money-market instruments and other short-term fixed-income securities used to support derivative positions. The Fund resets its exposure daily and is designed for sophisticated investors and active traders seeking short-term bearish or hedging exposure to spot Bitcoin; its results over periods longer than one trading day can differ materially from -200% of Bitcoin’s cumulative performance because of daily compounding, volatility, financing costs and portfolio rebalancing. BTCZ commenced operations in July 2024 and carries a gross annual expense ratio of 0.95%. The Fund is part of the T-REX family of leveraged and inverse ETFs co-created by REX Shares, a Connecticut-based provider of alternative-strategy ETFs and ETNs, and Tuttle Capital Management, an active and thematic ETF manager; Foreside Fund Services LLC serves as distributor. Recent strategic developments include the continued expansion of the T-REX platform into a broad lineup of 2X long and -2X short ETFs linked to U.S.-listed equities and crypto-linked underlyings, including Bitcoin, Ether, Tesla, NVIDIA, Strategy, Circle and CoreWeave; BTCZ remains the platform’s -2X Bitcoin product alongside the T-REX 2X Long Bitcoin Daily Target ETF, ticker BTCL.