REX Shares has announced the filing of an application with the SEC for the T-REX 2X Long TRON Daily Target ETF, aiming to provide investors with a 200% return based on TRON's daily performance.
ETF Goals and Mechanisms
The ETF aims to provide investors with a 200% reward based on TRON's daily performance through total return swaps. This new financial instrument intends to offer traders enhanced exposure to TRON without direct ownership, relying on swaps and derivatives for desired returns.
Market Reaction and Community Response
Thus far, the market reaction to REX Shares' announcement has been muted, with no official comments from prominent figures or organizations. The SEC has neither approved nor denied the application, maintaining silence. The TRON community has also shown little significant interest, possibly due to the early stages of the filing process.
TRON's Market History and Price Movements
According to CoinMarketCap, TRON is currently valued at $0.29, with a market cap of around $27.84 billion. The trading volume has surged by 29.87% over the last 24 hours, reaching $545.76 million. TRON has also shown price shifts of +1.34% in 24 hours, +2.38% in a week, and +20.89% over 90 days. Recent price movements appear to align with market interest in events such as the ETF filing.
Such ETFs may lead to increased speculative trading in TRON, potentially impacting price stability should the application be approved. Caution from investors is advised due to the prospect of high volatility.
