T-REX 2X Long SBET Daily Target ETF (SBTU)

The T-REX 2X Long SBET Daily Target ETF (SBTU) is an exchange-traded fund that seeks daily investment results equal to two times (200%) the daily percentage change in the share price of SharpLink Gaming (SBET). It is sponsored by REX Shares together with Tuttle Capital Management under the T-Rex brand.

SharpLink Gaming is a company that has made holding the cryptocurrency Ether a central part of its corporate treasury strategy, alongside its origins in online gaming and affiliate marketing. The fund does not hold a simple long position alone; it obtains its leveraged exposure mainly through swap agreements and similar derivatives tied to SBET shares, along with cash and short-term instruments held as collateral.

Because the 2x target is reset every trading day, the fund is built for short-term daily exposure. Over periods longer than one day, compounding means its performance can differ significantly from twice the return of SBET over the same period.