Bitcoin, Strategy news: ETF that feasts on carnage in MSTR hits record high
CoinDesk
A leveraged short ETF targeting MicroStrategy (MSTR) shares has reached a record high amid MSTR's significant decline.Summary
The GraniteShares 2x Short MSTR Daily ETF (MSDD), designed to deliver -200% of MicroStrategy's (MSTR) daily performance, has hit a record high of $114. This surge reflects the significant drop in MSTR shares, which fell to $126, down 76% from their November high. MSTR, the world's largest publicly listed bitcoin holder, sees its stock price closely track bitcoin's market value, which has also recently dropped to $73,000. Another similar inverse ETF, the Defiance Daily Target 2x Short MSTR ETF (SMST), also reached an 11-month high, confirming that investors betting against MSTR have profited greatly from the recent market downturn.
(Source：CoinDesk)