Direxion has launched two leveraged crypto ETFs under the tickers LMBO and REKT, which tracks US-based crypto equities.
Despite the fun-sounding tickers, the two newly launched Direxion funds saw less than $50,000 in combined trading volume on their first trading day.
Asset manager Direxion has debuted its two newest crypto industry-tracking exchange-traded funds — complete with fun ticker names: “LMBO” and “REKT.”, LMBO is the ticker for the Direxion Daily Crypto Industry Bull 2X Shares, which seeks a 200% investment return tied to the Solactive Distributed Ledger and Decentralized Payment Tech Index.
“LMBO and REKT provide focused exposure for traders to express their short-term conviction on companies building the future of a crypto-driven, decentralized economy.” “When it comes to fun tickers, leveraged issuers are on another level, which makes sense as they are catering to retail traders vs boomer wealth managers.”Dixerion also recently launched a Daily AI & Big Data “Bull” and “Bear” 2X products in May — but with far less creative tickers .Bitcoin L2s help crypto miners in Asia supplement income with staking
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