Direxion Daily Crypto Industry Bear 1X Shares

REKT

Market cap $1.41M

Last week was mixed-to-downbeat for Wall Street.

One of the top reasons investors have gravitated toward cryptocurrency-related assets is the enormous upside potential. On the front-facing side of the blockchain ecosystem, the total value of all virtual currencies was around $1.99 trillion one year ago.

Editor's note: Any and all references to time frames longer than one trading day are for purposes of market context only, and not recommendations of any holding time frame. Daily rebalancing ETFs are not meant to be held unmonitored for long periods.

Editor's note: Any and all references to time frames longer than one trading day are for purposes of market context only, and not recommendations of any holding time frame. Daily rebalancing ETFs are not meant to be held unmonitored for long periods.

Since its inception in mid-July, the Direxion Daily Crypto Industry Bear 1X Shares (REKT) has gained just over 8% and more could come if history repeats itself when it comes to the “September Effect.” After an August 5 sell-off, the S&P 500 has largely recovered en route to its upward trajectory.

Typically, the response to a market downturn is to wait for the red ink to subside, then to pick up the discount. However, there's another way to play bearish cycles and that is to consider exchange-traded funds that profit on downcycles.

On Wednesday, Direxion unveiled its latest strategic pair of leveraged and inverse ETFs. The new funds, the Direxion Daily Crypto Industry Bull 2X Shares (LMBO) and the Direxion Daily Crypto Industry Bear 1X Shares (REKT), focus on the crypto industry.