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SVTPerformance's Chain of Restaurants
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<blockquote data-quote="Weather Man" data-source="post: 16685710" data-attributes="member: 137766"><p><h3>Bet against Bitcoin with Direxion’s Bitcoin Strategy Bear ETF SEC filing</h3><p>Oct. 26, 2021 6:28 PM ET<a href="https://seekingalpha.com/symbol/BTC-USD?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cfirst_level_url%3Anews%7Csymbol%3ABTC-USD" target="_blank">Bitcoin USD (BTC-USD)</a>, <a href="https://seekingalpha.com/symbol/BITO?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cfirst_level_url%3Anews%7Csymbol%3ABITO" target="_blank">BITO</a>,<a href="https://seekingalpha.com/symbol/BTF?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cfirst_level_url%3Anews%7Csymbol%3ABTF" target="_blank">BTF</a><a href="https://seekingalpha.com/user/53367831/profile?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cbutton%3Aauthor_name%7Cfirst_level_url%3Anews" target="_blank">By: Jason Capul</a>, SA News Editor<a href="https://seekingalpha.com/news/3758640-bet-against-bitcoin-with-direxions-bitcoin-strategy-bear-etf-sec-filing#comments" target="_blank">25 Comments</a></p><p></p><p><img src="https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1078483204/medium_image_1078483204.jpg" alt="Bitcoin bearish price crash" class="fr-fic fr-dii fr-draggable " style="" /></p><p>24K-Production/iStock Editorial via Getty Images</p><p></p><ul> <li data-xf-list-type="ul">Direxion has just filed for the Direxion Bitcoin Strategy Bear ETF, a -1x inverse fund that will allow market participants to bet against Bitcoin (<a href="https://seekingalpha.com/symbol/BTC-USD?source=content_type%3Areact%7Csection%3Amain_content%7Cbutton%3Abody_link%7Cfirst_level_url%3Anews" target="_blank">BTC-USD</a>) inside an exchange traded fund wrapper.</li> <li data-xf-list-type="ul">Per the U.S. Securities exchange <a href="https://www.sec.gov/Archives/edgar/data/1424958/000119312521308123/d248159d485apos.htm" target="_blank">filing</a>: “The fund seeks to achieve its investment objective through managed short exposure to CME bitcoin futures contracts.”</li> <li data-xf-list-type="ul">Direxion’s exchange traded fund looks to counter the newly launched ProShares Bitcoin Strategy ETF (NYSEARCA:<a href="https://seekingalpha.com/symbol/BITO?source=content_type%3Areact%7Csection%3Amain_content%7Cbutton%3Abody_link%7Cfirst_level_url%3Anews" target="_blank">BITO</a>) and Valkyrie Bitcoin Strategy ETF (NASDAQ:<a href="https://seekingalpha.com/symbol/BTF?source=content_type%3Areact%7Csection%3Amain_content%7Cbutton%3Abody_link%7Cfirst_level_url%3Anews" target="_blank">BTF</a>).</li> <li data-xf-list-type="ul">According to Direxion’s prospectus, the fund will be actively managed. Additionally, the ETF has not been given a ticker symbol or expense ratio at this time.</li> <li data-xf-list-type="ul">Moreover, just like BITO and BTF, this fund will not directly invest or hold bitcoin as regulators still have not warranted that to be legal at this time.</li> <li data-xf-list-type="ul">This new filing will allow investors on the other side of the fence that have differing views on Bitcoin to bet against the cryptocurrency.</li> <li data-xf-list-type="ul">Bitcoin price action: -3.63% on Tuesday and +107.59% year-to-date.</li> <li data-xf-list-type="ul">In other Bitcoin ETF-related news, Valkyrie filed paperwork Tuesday to launch the Valkyrie XBTO Levered BTC Futures ETF (BTFX), <a href="https://seekingalpha.com/news/3758410-valkyrie-has-filed-for-a-125x-leveraged-bitcoin-futures-etf-with-the-sec?source=content_type%3Areact%7Csection%3Amain_content%7Cbutton%3Abody_link%7Cfirst_level_url%3Anews" target="_blank">a 1.25x leveraged Bitcoin-futures fund.</a></li> </ul> <ul> <li data-xf-list-type="ul"><strong>Read:</strong> <a href="https://seekingalpha.com/article/4462218-could-bitcoin-supply-increase?source=content_type%3Areact%7Csection%3Amain_content%7Cbutton%3Abody_link%7Cfirst_level_url%3Anews%7Csection_asset%3Anow_read" target="_blank">How Bitcoin's Supply Could Be Increased</a></li> </ul></blockquote><p></p>
[QUOTE="Weather Man, post: 16685710, member: 137766"] [HEADING=2]Bet against Bitcoin with Direxion’s Bitcoin Strategy Bear ETF SEC filing[/HEADING] Oct. 26, 2021 6:28 PM ET[URL='https://seekingalpha.com/symbol/BTC-USD?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cfirst_level_url%3Anews%7Csymbol%3ABTC-USD']Bitcoin USD (BTC-USD)[/URL], [URL='https://seekingalpha.com/symbol/BITO?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cfirst_level_url%3Anews%7Csymbol%3ABITO']BITO[/URL],[URL='https://seekingalpha.com/symbol/BTF?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cfirst_level_url%3Anews%7Csymbol%3ABTF']BTF[/URL][URL='https://seekingalpha.com/user/53367831/profile?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cbutton%3Aauthor_name%7Cfirst_level_url%3Anews']By: Jason Capul[/URL], SA News Editor[URL='https://seekingalpha.com/news/3758640-bet-against-bitcoin-with-direxions-bitcoin-strategy-bear-etf-sec-filing#comments']25 Comments[/URL] [IMG alt="Bitcoin bearish price crash"]https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1078483204/medium_image_1078483204.jpg[/IMG] 24K-Production/iStock Editorial via Getty Images [LIST] [*]Direxion has just filed for the Direxion Bitcoin Strategy Bear ETF, a -1x inverse fund that will allow market participants to bet against Bitcoin ([URL='https://seekingalpha.com/symbol/BTC-USD?source=content_type%3Areact%7Csection%3Amain_content%7Cbutton%3Abody_link%7Cfirst_level_url%3Anews']BTC-USD[/URL]) inside an exchange traded fund wrapper. [*]Per the U.S. Securities exchange [URL='https://www.sec.gov/Archives/edgar/data/1424958/000119312521308123/d248159d485apos.htm']filing[/URL]: “The fund seeks to achieve its investment objective through managed short exposure to CME bitcoin futures contracts.” [*]Direxion’s exchange traded fund looks to counter the newly launched ProShares Bitcoin Strategy ETF (NYSEARCA:[URL='https://seekingalpha.com/symbol/BITO?source=content_type%3Areact%7Csection%3Amain_content%7Cbutton%3Abody_link%7Cfirst_level_url%3Anews']BITO[/URL]) and Valkyrie Bitcoin Strategy ETF (NASDAQ:[URL='https://seekingalpha.com/symbol/BTF?source=content_type%3Areact%7Csection%3Amain_content%7Cbutton%3Abody_link%7Cfirst_level_url%3Anews']BTF[/URL]). [*]According to Direxion’s prospectus, the fund will be actively managed. Additionally, the ETF has not been given a ticker symbol or expense ratio at this time. [*]Moreover, just like BITO and BTF, this fund will not directly invest or hold bitcoin as regulators still have not warranted that to be legal at this time. [*]This new filing will allow investors on the other side of the fence that have differing views on Bitcoin to bet against the cryptocurrency. [*]Bitcoin price action: -3.63% on Tuesday and +107.59% year-to-date. [*]In other Bitcoin ETF-related news, Valkyrie filed paperwork Tuesday to launch the Valkyrie XBTO Levered BTC Futures ETF (BTFX), [URL='https://seekingalpha.com/news/3758410-valkyrie-has-filed-for-a-125x-leveraged-bitcoin-futures-etf-with-the-sec?source=content_type%3Areact%7Csection%3Amain_content%7Cbutton%3Abody_link%7Cfirst_level_url%3Anews']a 1.25x leveraged Bitcoin-futures fund.[/URL] [/LIST] [LIST] [*][B]Read:[/B] [URL='https://seekingalpha.com/article/4462218-could-bitcoin-supply-increase?source=content_type%3Areact%7Csection%3Amain_content%7Cbutton%3Abody_link%7Cfirst_level_url%3Anews%7Csection_asset%3Anow_read']How Bitcoin's Supply Could Be Increased[/URL] [/LIST] [/QUOTE]
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