Cryptocurrency
Direxion's New Crypto ETFs LMBO and REKT
Thursday. July 18 at 10:30 AM
1 min. readAsset manager Direxion has introduced two new exchange-traded funds (ETFs) in the crypto industry with playful ticker names: LMBO and REKT. LMBO, representing the Direxion Daily Crypto Industry Bull 2X Shares, aims for a 200% return linked to the Solactive Distributed Ledger and Decentralized Payment Tech Index. It follows US-listed securities in the digital asset sector, including Bitcoin mining and blockchain firms. On the other hand, REKT, the Direxion Daily Crypto Industry Bear 1X Shares, seeks a 100% return inversely tied to the Solactive index. These ETFs reflect the growing crypto market, valued at nearly $3 trillion. Despite their catchy names, some caution that investors may face significant risks. Direxion's innovative approach has garnered attention, with LMBO and REKT making their mark in the market alongside other products like Daily AI & Big Data ETFs.