2x Cardano ETF (CRDX)

The 2x Cardano ETF is an exchange-traded fund that seeks daily investment results, before fees and expenses, of two times (200%) the daily performance of Cardano (ADA), the native cryptocurrency of the Cardano proof-of-stake blockchain. The target applies to a single trading day, and returns over longer periods can differ substantially from twice the return of ADA.

Rather than holding the digital asset only directly, a fund of this kind generally obtains leveraged exposure through derivatives such as swap agreements or futures and keeps the rest of its assets in cash and short-term instruments.

The fund lists on Cboe BZX. It is designed as a short-term trading vehicle for those seeking magnified daily exposure to the price of Cardano.