Reputable analyst Eric Balchunas claims that the T-REX 2X Long MSTR Daily Target ETF (MSTU) has already increased by an astounding 225%.
In just six weeks since its introduction, the system has managed assets worth almost $1 billion.
With inflows totalling over $70 million in its first week of trading, MSTU had a rather spectacular start.
The ETF’s goal is to double the performance of the booming MSTR stock, as the name implies.
Supported by the underlying stock’s remarkable achievement, MSTU has performed admirably in recent weeks.
According to U.Today, MicroStrategy has emerged as one of the “Magnificent 7” stocks in terms of trading volume, which includes industry titans like Amazon and Alphabet.
Over 10% has been added to the MSTR shares during Monday’s trading session. Now, the stock has risen a staggering 53% in only the last month. At the moment, MicroStrategy has a market share of almost $52 billion.
In contrast, the price of Bitcoin has only increased by 2.7% in the last day and is already very close to $70,000.
A 4x Bitcoin ETF
Balchunas pointed out that MSTU ought to be seen as a 4X Bitcoin ETF.
Its 30-day volatility is 168%, whereas IBIT’s is 41%. MSTU is a good option for speculative traders, even though it is not feasible to introduce a 4X Bitcoin ETF in the US.
Additionally, Defiance ETFs introduced a 1.75X long MicroStrategy ETF in August.
Meanwhile, the overall holdings of spot Bitcoin ETFs are already close to 1,000,000 BTC, according to U.Today.
