Overview
The T-REX 2X Long Bitcoin Daily Target ETF (BTCL) offers 2x leveraged exposure to Bitcoin’s daily price movements. Managed by REX Shares and Tuttle Capital Management, this ETF is part of a suite of innovative funds targeting high-growth assets like Tesla, Nvidia, and major cryptocurrencies.
👉 Discover how leveraged ETFs can amplify your crypto strategy
Fund Objective
BTCL aims to deliver 200% of Bitcoin’s daily performance (before fees and expenses). Key notes:
– Single-day focus: Returns are calibrated daily and may deviate significantly over longer periods.
– No direct Bitcoin exposure: The fund uses swaps and derivatives rather than holding Bitcoin directly.
Key Features
| Metric | Value (As of 07/01/2025) |
|---|---|
| Exchange | Cboe BZX Exchange |
| Bid/Ask Spread | 0.12% |
| Fund Assets | $53.8M |
| Expense Ratio | 0.95% |
👉 Compare BTCL’s performance with other crypto ETFs
Risks and Considerations
BTCL is high-risk and suitable only for active traders who:
1. Understand leveraged compounding effects (losses magnify in volatile markets).
2. Monitor portfolios daily—holding longer than one day may result in losses even if Bitcoin rises.
3. Accept potential total loss if Bitcoin drops >50% in a day.
Additional risks:
– Derivatives & counterparty risk: Reliance on swaps with financial institutions.
– Liquidity constraints: May face challenges during market turmoil.
– Crypto volatility: Bitcoin’s price swings can sharply impact returns.
Holdings (07/01/2025)
| Asset | Allocation | Value |
|---|---|---|
| iShares Bitcoin Trust ETF Swap (Cantor) | 115.15% | $62M |
| Cash & Other | -110.24% | -$59.3M |
Holdings are rebalanced daily and may change.
Performance vs. Benchmarks (03/31/2025)
| Metric | BTCL (Market) | S&P 500 |
|---|---|---|
| 1-Month | -8.67% | -5.75% |
| YTD | -29.86% | -4.59% |
Past performance doesn’t guarantee future results.
FAQs
1. Is BTCL suitable for long-term investors?
No. Daily rebalancing makes it prone to volatility decay—ideal only for short-term trades.
2. How does the 2x leverage work?
If Bitcoin rises 5% in a day, BTCL targets +10% (before fees). Losses are similarly magnified.
3. What’s the tax impact?
Distributions are taxed as income or capital gains. Consult a tax advisor for specifics.
4. Can I lose more than my initial investment?
No—maximum loss is 100% of principal, but losses can occur rapidly.
5. How does BTCL differ from holding Bitcoin directly?
It’s a derivative-based product with no ownership of Bitcoin, introducing additional risks like counterparty exposure.
Final Thoughts
BTCL is a high-octane tool for traders betting on Bitcoin’s short-term moves. While it offers amplified gains, the risks—compounding losses, fees, and market volatility—demand active management.
For passive investors, direct Bitcoin exposure or diversified ETFs may be preferable.
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