Direxeion Launches Two High-Risk Leveraged Crypto ETFs

Odaily News Direxion has launched two high-risk leveraged cryptocurrency ETFs: Direxion Daily Crypto Industry Bull 2X Shares (ticker: LMBO) and Direxion Daily Crypto Industry Bear 1X Shares (ticker: REKT). Leveraged exchange-traded funds, such as Direxion's latest, use financial derivatives and debt to amplify the daily returns of underlying securities. Traditional ETFs typically track the securities in their underlying index on a one-to-one basis, while leveraged funds may target a 2:1 (or higher) ratio. "Crypto stocks are among the fastest growing companies in the world and currently represent a nearly $3 trillion asset class," said Edward Egilinsky, managing director of Direxion. "LMBO and REKT provide traders with concentrated investment opportunities to express their short-term confidence in companies building the future of the crypto-driven, decentralized economy."