Defiance Launches MicroStrategy ETF Today, First Single-Stock ETF in US
Tanzeel Akhtar has been covering the cryptocurrency and blockchain sector since 2015. She has written for the Wall Street Journal, Bloomberg, CoinDesk and Bitcoin Magazine.
Defiance ETFs is set to list a controversial new single-stock long leveraged exchange-traded fund (ETF) today, the MicroStrategy “MSTX” ETF.
In an announcement, Defiance said the MSTX aims to provide 175% long daily targeted exposure to the Nasdaq-listed software firm MicroStrategy which already trading under the stock ticker MSTR.
Defiance said its single-stock ETFs provide leveraged exposure to disruptive companies without the need for a margin account.
MicroStrategy is led by executive chairman Michael Saylor, and in recent earnings reported that it has expanded its Bitcoin holdings to 226,500 in the second quarter of 2024.
Those who invest in Bitcoin will know volatility is the name of the game. But the MSTX ETF is expected to be one of the most volatile ETFs, says Bloomberg Intelligence ETF analyst Eric Balchunas.
“The hot sauce arms race continues as Defiance launching a -1.5x MSTR ETF tmrw, which will be one of most volatile ETFs ever but a touch less than top dog $MSTX (1.75x long MSTR) which btw has traded a record $50m today- could hit $100m,” said Balchunas.
The hot sauce arms race continues as Defiance launching a -1.5x MSTR ETF tmrw, which will be one of most volatile ETFs ever but a touch less than top dog $MSTX (1.75x long MSTR) which btw has traded a record $50m today- could hit $100m. Liquidity growing FAST around this thing. pic.twitter.com/Y65eUmwgEu
Behind the listing is Defiance ETFs, a firm founded in 2018, it is an ETF issuer dedicated to income and thematic investing.
“As we introduce MSTX, our long leverage MicroStrategy ETF, we’re
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