T-Rex 2X Inverse Bitcoin Daily Target ETF (BTCZ)

The T-Rex 2X Inverse Bitcoin Daily Target ETF (BTCZ) seeks to return twice the inverse (-200%) of bitcoin's daily performance. When bitcoin falls on a given day, the fund aims to rise by roughly double that percentage, and vice versa.

The fund rebalances daily and targets returns over a single trading day only. Over longer periods, compounding means its results can differ markedly from -2x the cumulative change in bitcoin. It uses derivatives such as swaps referencing bitcoin or bitcoin exchange-traded products to establish its short exposure.

BTCZ is part of the T-Rex family of leveraged and inverse ETFs from Tuttle Capital Management and REX Financial, and is the bearish counterpart to the T-Rex 2X Long Bitcoin Daily Target ETF.