Biden promised to turn the page on Trump. Now he's being replaced by him
Firefighters prepare for increasing gusts following brief reprieve for LA area
John Ratcliffe, tapped by Trump to lead the CIA, will face questioning in the Senate
Nippon Steel wants to work with Trump administration on US Steel deal, Mori tells WSJ
After cable damage, Taiwan to step up surveillance of flag of convenience ships
BOJ will raise rates if economy, price conditions continue to improve, Ueda says
Manatees congregate in warm waters near power plants as US winter storms graze Florida
AAPI adults prioritize immigration, but split on mass deportations: AP-NORC/AAPI Data poll
As Los Angeles burns, Hollywood's Oscar season turns into a pledge drive
As fires ravage Los Angeles, Tiger Woods isn't sure what will happen with Riviera tournament
Antetokounmpo gets 50th career triple-double as Bucks win 130-115 to end Kings' 7-game win streak
By Suzanne McGee
(Reuters) - Options on just-launched leveraged products that track the spot price of bitcoin via derivative swaps began trading on Thursday, a first for the cryptocurrency exchange-traded fund (ETF) universe.
Investors will now be able to buy options on the T-Rex 2x Long Bitcoin Daily Target ETF and the T-Rex 2x Inverse Bitcoin Daily Target ETF, which were launched on Wednesday, Rex Shares and Tuttle said.
The SEC has yet to approve options on the nine new ETFs launched in January that track the spot price of bitcoin directly.
The underlying leveraged ETFs are designed for daily traders interested in getting twice the return or betting on a decline in the underlying asset, which in the case of these products is BlackRock's market-leading iShares Bitcoin Trust. The leverage makes the ETFs potentially more volatile.
"We strongly encourage all traders to approach this exclusive offering with diligence, ensuring they are well-informed about the unique characteristics and risks associated with trading options for these specialized ETFs," Rex Shares and Tuttle said.
(Reporting by Suzanne McGee; Editing by Ira Iosebashvili and Will Dunham)
